In comparison to the year 2019, a projected revenue reduction of nearly $370 billion is expected. It is unlikely that air traffic will return to pre-pandemic levels until 2024. According to McKinsey, the airline industry’s revenue in 2020 will be $328 billion, down from $470 billion in 2019. According to the International Air Transport Association (IATA), the airline sector is expected to lose $47.7 billion in 2021. This is a significant improvement above the predicted industry loss of $126.4 billion in 2020. Cargo has remained a key segment of the sector’s activity, exceeding passenger traffic.
Insider Monkey analyzes the list of the 9 best airline stocks to buy according to hedge funds. Mesa Air Group, Inc. is Mesa Airlines’ commercial aviation holding company. Through its fleet of over 146 aircraft, the firm provides scheduled passenger and cargo transportation. It came in ninth place on the list of the 9 greatest airline stocks to purchase according to hedge funds. Hedge funds rate American Airlines Group Inc. eighth on the list of the top airline stocks to buy. The company reported revenue of $7.48 billion, which was $16.02 million higher than expected. It has a fleet of roughly 855 aircraft that it owns and operates. Spirit Airlines, Inc. is a carrier and a low-cost airline corporation. Scheduled flights are available throughout the United States, Latin America, and the Caribbean. According to hedge funds, it ranks seventh among the top nine airline stocks to buy. Allegiant Travel Company, situated in Las Vegas, is ranked sixth among hedge funds’ top airline stocks to buy. The company is a low-cost airline that specializes in providing travel services to those living in underserved areas. Susquehanna Investment Advisors maintains a Positive rating on JetBlue Airways Corporation with a $21 price objective. The company reported earnings for the second quarter, with an EPS of -$0.65, which was $0.09 higher than expected. For more details, click 9 Best Airline Stocks To Buy According To Hedge Funds.
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