Our Near-Term Thesis on Airlines Is Playing Out: Stocks Beginning to Look More Attractive
In our December 2016 note on the U.S. airlines, we cautioned that stocks across the major network carriers (United, American, and Delta) and Southwest looked fully valued to slightly overvalued. However, we thought investors might find a more attractive entry point as a result of fare headwinds in the first half of 2017 combined with higher costs. Our thesis has begun to play out: Airline stocks have sold off on the back of deteriorating unit revenue guidance and are now trading at an average pr...American Airlines Group is a holding company. Through its subsidiaries, the company's business activity is the operation of a primary network carrier, providing scheduled air transportation for passengers and cargo. The company's regional carriers provide scheduled air transportation under American Eagle. The American Eagle carriers include the company's regional carriers Envoy Aviation Group Inc., PSA Airlines, Inc. and Piedmont Airlines, Inc., as well as third-party regional carriers including Republic Airline Inc., Mesa Airlines, Inc., SkyWest Airlines, Inc. and Compass Airlines, LLC. The company's cargo division provides freight and mail services, with facilities and interline connections available across the globe.
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