Airline Stocks Fall After Downgrades on Falling Consumer Confidence

Dow Jones04-01

By Katherine Hamilton

Airline stocks sank after a Jefferies analyst downgraded several carriers due to falling consumer sentiment.

Shares of Delta slumped 5% to $41.60, making it the worst performance on the S&P 500 Tuesday morning. American Airlines shares fell 4% to $10.11, and Southwest was down 3% at $32.53.

Jefferies analyst Sheila Kahyaoglu on Tuesday downgraded American and Delta's stocks to hold from buy, and cut Air Canada and Southwest to underperform. United is now the only airline stock Jefferies rates as a buy because it has opportunity beyond 2025, Kahyaoglu said.

Kahyaoglu expects American, Air Canada and Southwest to cut their 2025 outlook, and Delta may do the same.

Consumer sentiment, which is at a four-year low, is expected to remain soft amid swelling macroeconomic uncertainty, Kahyaoglu said. There has been a decline in corporate travel, which could worsen as tariffs are set to go into effect Wednesday.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 01, 2025 11:06 ET (15:06 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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