Airline stocks see broad weakness after July 4 travel disruptions

Shares of airline operators traded broadly lower in premarket trading Wednesday, after travel on the July 4 holiday was disrupted by bad weather. Data from the Transportation Securities Administration (TSA) showed that 2.00 million people went through TSA checkpoints on Tuesday, down from 2.21 million in 2022 and well below the 2.51 million people who traveled on July 4 in pre-pandemic 2019. There were a total of 1,4100 flights canceled on July 4 and 28,337 flights were delayed, according to data provided by FlightAware. The U.S. Global Jets exchange-traded fund
JETS,
+1.07%
fell 0.7% ahead of Wednesday’s open, while futures
ES00,
-0.52%
for the S&P 500
SPX,
+0.12%
lost 0.5%. Among the Jets ETF’s more-active components, shares of American Airlines Group Inc.
AAL,
+0.89%
dropped 0.9%, JetBlue Airways Corp.
JBLU,
+1.58%
shed 1.0%, Delta Air Lines Inc.
DAL,
+0.88%
gave up 0.7%, Southwest Airlines Co.
LUV,
+2.29%
lost 0.7% and United Airlines Holdings Inc.
UAL,
+0.35%
slid 1.0%.