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United Airlines saw its stock plunge by 8% due to a pessimistic Q4 forecast that is linked to suspensions of flights to Tel Aviv. This comes despite the company surpassing Q3 profit expectations, setting the stock on course for a one-year closing low.
Helane Becker, an analyst at TD Cowen, predicts continued losses for United in Q4. The fallout from the ongoing conflict has also impacted other airlines. Stocks of Delta, American Airlines (NASDAQ:AAL), JetBlue Airways (NASDAQ:JBLU), Southwest Airlines (NYSE:LUV), Hawaiian Airlines parent Hawaiian Holdings (NASDAQ:HA) Inc., Alaska Air (NYSE:ALK) Group Inc., and Spirit Airlines (NYSE:SAVE) Inc. all experienced downturns.
Despite the crisis in Israel, Delta President Glen Hauenstein expressed confidence in meeting full-year guidance. The situation is further complicated by a recent blast at a Gaza hospital that has heightened tensions and uncertainty. Investors are now keenly awaiting upcoming results from American Airlines.
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