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The Zacks Analyst Blog Highlights JetBlue Airways, Spirit Airlines, SkyWest, United Airlines and Ryanair
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For Immediate Release
Chicago, IL – March 7, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: JetBlue Airways (JBLU - Free Report) , Spirit Airlines (SAVE - Free Report) , SkyWest (SKYW - Free Report) , United Airlines (UAL - Free Report) and Ryanair Holdings (RYAAY - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Arline Stock Roundup: JetBlue's Cancelled Merger & More
In the past week, JetBlue Airways announced that it would not go forward with its decision to buy Spirit Airlines for $3.8 billion, citing anti-trust hurdles. SkyWest signed a fleet-related deal with UnitedAirlines. SKYW aims to expand its fleet to meet the increasing demand for air travel. Ryanair Holdings was also in the news, courtesy of its upbeat traffic report for February.
Recap of the Most Important Stories
1. More than a month after a federal judge blocked JetBlue’s $3.8 billion acquisition of Spirit Airlines on antitrust grounds, JBLU decided to walk away from the deal. JBLU’s management believes that the legal and regulatory approvals necessary for the deal’s success “were unlikely to be met” by the dates specified. Following the termination, JetBlue will pay Spirit $69 million. Moreover, the termination resolves all outstanding matters pertaining to the deal.
2. SkyWest announced a new flying agreement with United Airlines, in line with its efforts to expand and modernize its fleet. Per the agreement, SKYW will fly 20 more E175s for UAL under a four-year contract. The 20 E175s will become a part of SKYW’s fleet during the course of the current year. This present agreement between the two airline companies is in addition to the previously announced agreement with UAL pertaining to the 19 SKYW-owned E175s.
3. The number of passengers transported on Ryanair flights was 11.1 million in February 2024, reflecting a 4.7% year-over-year increase. However, RYAAY’s traffic fell sequentially. The February figure compares unfavorably with the January 2024 figure of 12.5 million. The load factor (% of seats filled by passengers) was high at 92% in February 2024.
RYAAY was also in the news recently when it trimmed its fiscal 2025 traffic forecast due to the non-availability of planes. The story was covered in the previous week’s write-up.
Performance
Airline stocks exhibited a mixed trend with respect to price over the past week. The NYSE ARCA Airline Index was almost flat at $65.01. Over the course of the past six months, the NYSE ARCA Airline Index has gained 5%.
What’s Next in the Airline Space?
Stay tuned for further news updates in the space.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights JetBlue Airways, Spirit Airlines, SkyWest, United Airlines and Ryanair
For Immediate Release
Chicago, IL – March 7, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: JetBlue Airways (JBLU - Free Report) , Spirit Airlines (SAVE - Free Report) , SkyWest (SKYW - Free Report) , United Airlines (UAL - Free Report) and Ryanair Holdings (RYAAY - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
Arline Stock Roundup: JetBlue's Cancelled Merger & More
In the past week, JetBlue Airways announced that it would not go forward with its decision to buy Spirit Airlines for $3.8 billion, citing anti-trust hurdles. SkyWest signed a fleet-related deal with United Airlines. SKYW aims to expand its fleet to meet the increasing demand for air travel. Ryanair Holdings was also in the news, courtesy of its upbeat traffic report for February.
Recap of the Most Important Stories
1. More than a month after a federal judge blocked JetBlue’s $3.8 billion acquisition of Spirit Airlines on antitrust grounds, JBLU decided to walk away from the deal. JBLU’s management believes that the legal and regulatory approvals necessary for the deal’s success “were unlikely to be met” by the dates specified. Following the termination, JetBlue will pay Spirit $69 million. Moreover, the termination resolves all outstanding matters pertaining to the deal.
2. SkyWest announced a new flying agreement with United Airlines, in line with its efforts to expand and modernize its fleet. Per the agreement, SKYW will fly 20 more E175s for UAL under a four-year contract. The 20 E175s will become a part of SKYW’s fleet during the course of the current year. This present agreement between the two airline companies is in addition to the previously announced agreement with UAL pertaining to the 19 SKYW-owned E175s.
SkyWest currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
3. The number of passengers transported on Ryanair flights was 11.1 million in February 2024, reflecting a 4.7% year-over-year increase. However, RYAAY’s traffic fell sequentially. The February figure compares unfavorably with the January 2024 figure of 12.5 million. The load factor (% of seats filled by passengers) was high at 92% in February 2024.
RYAAY was also in the news recently when it trimmed its fiscal 2025 traffic forecast due to the non-availability of planes. The story was covered in the previous week’s write-up.
Performance
Airline stocks exhibited a mixed trend with respect to price over the past week. The NYSE ARCA Airline Index was almost flat at $65.01. Over the course of the past six months, the NYSE ARCA Airline Index has gained 5%.
What’s Next in the Airline Space?
Stay tuned for further news updates in the space.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.