US Airline Stocks Fall because of the US Travel Electronics Ban
Yesterday we posted a lot about the new Trump Administration US Travel Electronics Ban. The news broke that it was not longer just a US Travel Ban but also a UK Travel Ban. It went widely unreported across the major news channels yesterday but today it’s been growing. Today, US Airline Stocks are the ones paying the price.
In case you haven’t been up to date, here’s the basic info on the ban. Here’s some deeper information on Trump’s meeting with airline CEO’s as well, where the Delta CEO called for a “leveling” of the playing field in order to increase jobs.
Electronics larger than a cell phone will have to be placed in the hold of the aircraft so you won’t have access to them, also subjecting them to potential damage and theft.
Once the word got out that this would be affecting airlines, and not just the US airlines, stocks opened wildly lower this morning. American Airlines opened down 1.7%, Delta opened down 2.15%, and United opened down 2.4%.
While United has recovered slightly, at the time of posting Delta is still in the negative for the day and American Airlines is till down over 1.5%.
This didn’t just affect the US stocks and the airlines based here. IAG, the parent company of British Airways (also affected by the UK ban) took a big hit of over 2% to their stock value.