US airline stocks have rebounded after Tuesday's sell-off as Thanksgiving travel ramps up with a record 30 million people expected to take to the skies over the holiday period.
An average of 2.7 million passengers per day are expected to fly over the 12-day Thanksgiving travel period, which runs from November 17 to 28.
The Sunday after Thanksgiving, November 26, is forecast to be the busiest travel day with 3.2 million passengers.
Record high passenger traffic is set to provide a much-needed revenue boost to US airlines as they struggle with rising fuel and labor costs.
United Airlines Holdings Inc (NASDAQ:UAL) shares traded up 4.3% at US$41.13 on Wednesday and have gained 16.7% in the last month.
Delta Air Lines (NYSE:DAL) shares have gained 14.7% in the last month to trade at US$36.89, while American Airlines Group (NASDAQ:AAL) stock has gained 12.4% to US$12.63 and Southwest Airlines (NYSE:LUV) is up 3.2% at US$25.10.
Shares of low-cost, domestic-focused carriers Frontier, Spirit, and JetBlue Airways (NASDAQ:JBLU) had added 4.7%, 2.5%, and 1.6% on Wednesday, but are down month-over-month.
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