Shares of American Airlines Group Inc. (AAL) fell 3.7%, to put them on track to suffer the longest losing streak in more than two years. The air carrier’s stock has tumbled 9.8% over the past seven sessions, which would be the longest stretch of losses since the seven-day stretch that ended Aug. 20, 2021, according to Dow Jones Market Data. The stock’s pullback comes after it soared 23.2% over the past two months of 2023, to end the year up 8.0%. The current weakness comes as harrowing pictures and videos circulated of a Japan Airlines flight colliding with a Japanese coast guard aircraft. Other airline stocks also fell, with the U.S. Global Jets ETF (JETS) down 3.3%, to underperform the S&P 500’s 0.7% decline. Among others in the group, shares of JetBlue Airways Corp. (JBLU) shed 6%, of Delta Air Lines Inc. (DAL) slumped 4.1%, of Southwest Airlines Co. (LUV) slid 3.3% and of United Airlines Holdings Inc. (UAL) fell 2.8%.
-Tomi Kilgore
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01-03-24 1211ET
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