Spirit Airlines strikes, JetBlue reaps benefits
All 450 pilots employed by Spirit Airlines legally walked off the job on Saturday morning. Flights for the airline have been canceled through Wednesday.
Shares of JetBlue Airways Corp. climbed on Monday in anticipation of JetBlue picking up the slack. Analysts believe JetBlue and American Airlines are likely to benefit the most from Spirit’s strike. They have flights that cover the same area.
As the economy shows signs of recovery, more people are traveling. If the trend continues, stocks should continue rising.