|Bid||21.73 x 3000|
|Ask||21.79 x 4000|
|Day's Range||20.93 - 21.43|
|52 Week Range||11.25 - 32.36|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-34.22%|
|Beta (5Y Monthly)||1.61|
|Expense Ratio (net)||0.60%|
Shares of Alaska Air Group Inc. slipped 0.3% in premarket trading Thursday, after the air carrier provided a downbeat outlook for November, in which traffic and load factor are expected to decline from October while cash burn increases. The company said October total revenue fell 62% from a year ago after a 66% decline in September, and expects a decline of 60% to 65% in November. While October revenue passengers increased to 1,400 (down 64%) from 1,212 (down 68%) from September, passengers are expected to decline to 1,200 to 1,300 (down 65% to 70%) in November. Load factor improved from 47% in September to 49% in October, but is expected to decline to 40% to 45% in November. October cash burn was 97% million, which was lower than September because of improved ticket sales, but cash burn for November is expected to increase to $125 million to $150 million amid a softening in demand. "We believe that renewed restrictions by many state and local governments have negatively impacted demand in the immediate term," the company said in a statement. "Future booking patterns remain difficult to predict given continued uncertainty in COVID-19 cases and timing of available vaccines and treatments."
An airline exchange-traded fund (ETF) can provide diversified exposure to the air travel industry, including aircraft manufacturers, airline operators, airports, and terminal services. The U.S. airline industry includes major carriers such as American Airlines Inc.
Shares of airlines took flight Monday, following upbeat efficacy data on Moderna Inc.'s COVID-19 vaccine candidate. The U.S. Global Jets ETF surged 4.2% in premarket trading, after being up 2.6% just before Moderna said its mRNA-1273 COVID-19 vaccine demonstrated 94.5% efficacy, and that it can be stored for longer times at standard refrigerator temperatures. Among the more active air carrier stocks, American Airlines Group Inc. ran up 6.4%, Delta Air Lines Inc. climbed 4.6%, United Airlines Holdings Inc. hiked up 7.5%, JetBlue Airways Corp. soared 8.1%, Southwest Airlines Co. jumped 5.5% and Spirit Airlines Inc. advanced 8.2%. The rally comes as futures for the S&P 500 rallied 1.2%.