Airlines, Cruise Shares Surge Amid Hope For Demand As Economy Reopens
By Dhirendra Tripathi
Investing – Shares of airline companies and cruise operators were among the gainers Tuesday on hope that these will be the biggest beneficiaries as the economy opens up and life returns to normal in months to come.
Delta (NYSE:DAL) and Southwest Airlines (NYSE:LUV) rose 0.5% to 1% while both United Airlines (NASDAQ:UAL) and JetBlue Airways (NASDAQ:JBLU) were up 1.5% to 2.5%.
Like airlines, shares of cruise operators were humming too in Tuesday’s trade on hope of a boom in travel as people step out after a year of being holed up in homes.
Most cruise companies have already started operations outside of the U.S.
Norwegian Cruise (NYSE:NCLH) and Carnival (NYSE:CCL) were both up around 3% and Royal Caribbean (NYSE:RCL) gained 4%. Last week, Norwegian outlined its plan to return to cruising in the U.S. on August 7.
Carnival has cancelled most of its cruises through July with plans to resume operations on select ships in that month.
Rival Royal Caribbean has resumed sailing outside the U.S. in a very limited manner with plans for further rollout in July.
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