Posted on 04/01/2020 5:56:06 AM PDT by Moonman62
Airline stocks were taking a dive in premarket trading Wednesday, as part of a broad stock market selloff in the wake of the White House's grim warning on the coronavirus pandemic. Analyst Joseph DeNardi at Stifel Nicolaus said the "near worst-case scenario" is playing out for airlines, with more stringent travel restrictions and quarantines being implemented are resulting in further demand weakness, and with concerns that COVID-19 will re-emerger later in the year. DeNardi expects airlines to suspend flying for a period this summer.
(Excerpt) Read more at marketwatch.com ...
They’re going to eventually stop, along with many other things.
Will Business Interruption Insurance Provide Coverage for Coronavirus Losses?
When POTUS gets a breather after the worst is over, insurance issues need to be sorted.
Give it a month. I’m hoping to get a 737 with low miles via eBay. Gas should be pretty cheap, too. :D
Has Fauci been doing any short-selling lately?
Inquiring minds want to know.
When I look at total global airline traffic on FlightAware, I estimate it is already down two thirds from normal levels.
Just one anecdotal story, my brother used to fly all over the world for his job. China, Thailand, Sweden, Italy, Japan, and then on vacations.
He doesn’t fly at all anymore. Working from home along with everyone else in his company.
Why isn’t the market “sheltering in place”?
It would seem to alleviate the issue of manipulative trading.
We could teach the traders how to “invest” before they have to teach us how to farm.
The Dems and the Fake News are high-fiving each other!
I think this may be Trump’s Achilles heel.
What heel is that genius? The airlines going through hard times? Jeez you doomers are all over the place and make no sense. Sit down dummy and let the adults comment.
I have a vacation scheduled in Dallas in early May. Flight pair DTW/DAL. Southwest sent me a notice that I had to change schedules. Went to web page, made changes, Southwest credited me $82 for essentially the same flights. Price of tickets went from about $90 each to about $50.
But then....
Oh, so we can look forward to going through all of this nonsense again, pretty much any time the political hacks decide they want to wreck the economy or prevent people from assembling... or for whatever reason the little dictators in state houses around the country feel like it. Awesome.
I started doing this simply because I despise the whole air travel business, and had several situations where I nearly missed critical appointments due to delays and cancellations.
I haven’t really flown too many times in my life. I’m a simple guy, and of course, I’m afraid of flying :D
But of my handful of flights, I never had a bad time or experience. Crowded flights, but still no troubles.
I suspect this Chinese WMD attack is going to have the effect of ending that industry, and likely a number of others.
I wouldn’t get on a plane if my life depended on it now. I don’t even want to go anywhere near the airport.
Delta (DAL) down 50% since Jan. May have to jump in in about 2 weeks or so. When this is over it will be flying time big time.
We all need to step back and take a deep breath. This is not the first time the world’s economy has taken a hit.
WWII. While no direct comparison there are some similarities.
The world’s economies all switched from consumer goods to military goods. There were shortages and there were rationing and there were millions of deaths.
It was brutal, difficult and harsh, but the world did not come to an end, civilization did not come to an end.
This pandemic will come to an end. Some businesses will fail, some will grow stronger and new businesses will be created.
Some business models that have been hanging on since the 1900 will finally die out (with some exceptions).
The internet and the digital age has been available for years now but businesses and governments have been reluctant to embrace it. Now they have no choice.
With the old business models failing, new business models will take over.
We have had the ability to hold business meetings without having to travel for years now. Perhaps this will become the new norm. Instead of sending an individual to a meeting with all the associated cost, meetings are held via the internet.
Working from home has been a possibility for years, perhaps more will be able to do so in the future.
Home schooling is also something that has been possible for years, maybe more will join the movement and teach their children at home.
I can not think of all the new ways of doing things but someone will, and that someone will get rich.
At the end of WWII Europe was destroyed. It had to be rebuilt.
In America, while spared actual physical destruction, there were still a lot of shortages. It took time but America came out of it better then she was when the war began.
The 1950s was the GOLDEN AGE for America.
At the end of this pandemic, Americans will return to work and we may just enter another GOLDEN AGE.
Think of all the carbon not going into the atmosphere.
Gonna be a COLD winter!
/s
Yeah. The global pandemic is his little plot to beef up his portfolio and make a killing shorting the market.
Asshat.
I am kicking myself. Thought DAL was a good buy earlier this week so I bought a thousand shares. I also purchased a thousand shares of CCL figuring that once this is all over and people are travelling again I’ll make some money. Should have waited as they aren’t at rock bottom yet.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.