Posted 1/17/2024, 7:58:47 PM
Boeing Losses and Airline Woes Drag Down Air Travel Stocks
- Boeing lost $35 billion in market cap in 2023, dragging down air travel stocks
- Alaska Airlines plane incident in January caused Boeing stock to plunge from $249 to $200 per share
- Alaska Airlines and United Airlines stocks dropped 13% and 7% respectively due to flight cancellations
- Proposed JetBlue-Spirit Airlines merger blocked amid antitrust concerns, Spirit stock plunged 47%
- Despite record revenue, airline stocks dropped due to cautious 2024 outlook and higher costs