Airline, Cruise Stocks Weaker As New Covid Cases Stoke Fear 

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Airline, Cruise Stocks Weaker As New Covid Cases Stoke Fear 
Credit: © Reuters.

By Dhirendra Tripathi – Shares of airline and cruise operators weakened Tuesday as the increase in the number of fresh Covid-19 cases in the U.S. and elsewhere raised fears that lockdowns could return.

American Airlines (NASDAQ: AAL ), the largely U.S.-focused carrier, fell 2.3% and United Airlines (NASDAQ: UAL ) 0.8%. Delta (NYSE: DAL ) and JetBlue Airways (NASDAQ: JBLU ) both dipped 0.4%.

Norwegian Cruise (NYSE: NCLH ) and Royal Caribbean (NYSE: RCL ) were down 3% each. Carnival (NYSE: CCL ) fell 2%. Walt Disney (NYSE: DIS ) fell 1.6%.

As fresh cases surge, states in the U.S. are back to taking harsher steps to control the spread of the virus. While the U.S. has vaccinated more than half its population with at least one dose of a vaccine, hesitancy and misinformation have slowed the progress even as the economy has reopened.

According to U.S. Centers for Disease Control and Prevention Director Rochelle Walensky, as of Saturday, there were about 72,000 new cases per day of Covid-19 in the U.S., a 44% increase over the previous week and higher than the peak set in the summer of 2020.

Hospital admissions had increased 41% and deaths to 300 daily, a 25% jump, she said, according to Reuters.

In New York City, Mayor Bill de Blasio said starting August 16, individuals would need to show proof of vaccination for indoor activities such as dining and gyms.  




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