Investing.com - The airline sector is trending higher on Monday, regrouping after taking a hit last Friday as the approach of Hurricane Irma resulted in hundreds of flight cancellations. Friday’s losses came after airlines had experienced a tough few weeks as flooding from Hurricane Harvey closed Houston’s two airports.
On Monday, the bounce came as the worst case scenario for Hurricane Irma did not play out. While the storm isn’t over, its impacts have been less than what traders priced into the stocks and therefore traders scaled back some of the bearish bets.
Monday afternoon, shares of JetBlue Airways Corporation (NASDAQ:JBLU), SkyWest Inc (NASDAQ:SKYW), Delta Air Lines Inc (NYSE:DAL) and American Airlines Group (NASDAQ:AAL) were all higher.