US immigration ban forces airline stocks to drop abruptly

Published on : Tuesday, January 31, 2017

FlightThe latest travel ban, implemented by the US President Donald Trump, on immigrants and travellers from seven Muslim nations created a state of chaos in the country in just a few days. The shares of the airline companies of the United States recently took a hard jab and plunged to the lowest spot in eight weeks on Monday, 30th January.

 

 

Most of the shares of the airlines were sold off on Friday, 27th January after the order was signed by the President. According to the industry experts, the NYSE Arca Airline Index fell down 1.7 per cent and reached the lowest spot in almost eight weeks. The American Airline took most of the blow on Friday as AAL slumped 4.37 per cent.

 

 

After the signing of the order, the stock of American Airlines witnessed the biggest decline of 4.4 per cent in the industry. Apart from American, the shares of the United Continental Holdings Inc. took a plunge of 3.63%. The shares of the Delta Air Lines Inc. also witnessed a slump of 4.1 per cent after computer outage forced numerous flights to cancel or delay. Apart from these, the shares of JetBlue Airways Corp. took a plunge of 1.5 per cent, shares of Southwest Airlines Co. slumped 0.7 per cent and the Alaska Air Group Inc.’s share witnessed a plunge of 1 per cent.

 

 

According to Michael Derchin of Imperial Capital LLC, the plunges of the shares are more of a short-term issue than a long-term one, which should normalise soon.

Tags: , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 WTM London 2018
  • 03 imexamerica 2018
  • 07 miltcongress 2018
  • 08 theleisureshow 18
  • 09 cibtm 2018
  • 09 Seatrade Cruise Med 2018
  • 10 ITE-HCMC 2018
  • 13 aite 2018
  • 14 traveltechme 2018
  • 15 TravelDaily TDC 18
  • 16 OTDYKH 2018
  • 17 Hotel Show dubai 18
  • 18 hospitalityqatar 18
  • 18 Hotel Management Asia Summit 2018
  • 18 thincindonesia 2018
  • 19 bricsaconsulting 2018
  • 20 CITE_TTW 2018
  • 20 europecongress 18
  • 20 sahicsouthamerica 2018
  • 21 bitmchina 2018
  • 22 Hotel Management Singapore Summit 18
  • 23 PTM 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com