3 Airline Stocks to Maximize Summer Travel Tailwinds

SkyWest stock is already trading at record highs after a bull note

Digital Content Manager
Jun 4, 2024 at 3:38 PM
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Airline stocks are always in focus as summer travel season picks up. Even more so after the International Air Transport Association (IATA) now expects the industry to generate a net profit of $30.5 billion in 2024, compared with $25.7 billion estimated in December last year. With these bullish projections in mind, here are three airline stocks investors could place bets on.

Travel staple Delta Air Lines, Inc. (NYSE:DAL) stock is down 2.2% to trade at $49.65 at last glance, but relies on support from its 60-day moving average, which has remained in place for most of 2024. The shares have risen more than 197% over the past 12 months and sport a 77.1% year-to-date lead after surging to a May 13, four-year high of $179.70.

Last seen down 0.5% to trade at $41.73, Alaska Air Group, Inc. (NYSE:ALK) is now running into overhead pressure at the 40-day moving average, which emerged in late May. The $44.50 level acted as a ceiling last month as well, after shares pulled back from this year's current peak above $46. ALK still boasts a 6.7% lead in 2024 despite negative attention after a section of a Boeing (BA) 737 MAX jet blew out mid-flight. 

Lesser known SkyWest Inc (NASDAQ:SKYW) is another option for those looking to get in on the airline sector. SKYW is up 0.9% to trade at $80.10, and earlier hit a fresh record high of $84.10, following a price-target hike from TD Cowen to $95 from $85. The security is on track for its third-straight gain and sports a 139.5% year-over-year lead


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