Shares of American Airlines Group Inc. (AAL) have experienced a notable decline, dropping by 3.7%. This puts them on track to endure the longest losing streak in more than two years. Over the past seven sessions, the stock has plummeted by 9.8%, marking the longest stretch of losses since the seven-day period that ended on August 20, 2021, according to Dow Jones Market Data.
Previous Gains and Current Weakness
Interestingly, American Airlines’ stock had previously soared by an impressive 23.2% during the final two months of 2023, closing the year with an overall increase of 8.0%. Unfortunately, the current weakness in their stock price is occurring amidst unsettling images and videos circulating of a Japan Airlines flight colliding with a Japanese coast guard aircraft.
Market Impact and Airline Stocks Performance
The impact has not been exclusive to American Airlines alone, as other airline stocks have also suffered declines. The U.S. Global Jets ETF (JETS) declined by 3.3%, underperforming the S&P 500’s 0.7% decrease. JetBlue Airways Corp. (JBLU) saw a drop of 6%, while Delta Air Lines Inc. (DAL) slumped by 4.1%. Southwest Airlines Co. (LUV) experienced a slide of 3.3%, and United Airlines Holdings Inc. (UAL) fell by 2.8%.
Despite these challenges, it is important to note the potential for market volatility and the ever-changing nature of the aviation industry. Investors and stakeholders will continue to monitor these developments closely.
