SkyWest (SKYW) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
American Airlines told an appeals court Monday would consider a new arrangement with JetBlue Airways if it wins a ruling reversing a May 2023 decision requiring it to end an alliance. U.S. District Judge Leo Sorokin ruled in the airlines' "Northeast Alliance" (NEA) that allowed the two carriers to coordinate flights and pool revenue violated antitrust law.
Airlines are expected to bring in $996 billion in revenue in 2024, according to the International Air Transport Association. However, profit margins remain thin, as year-end profits are expected to be $30 billion. Yahoo Finance's Seana Smith and Brad Smith break down the latest report and what it signals for the airline industry. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl