In 2020, a projected 1.8 billion people flew, down 60.2 percent from 4.5 billion in 2019. The COVID-19 outbreak had a direct influence on airlines all around the world. The sector is steadily rebounding as vaccination coverage accelerates and travel restrictions are relaxed. The worldwide aviation industry is predicted to rise at a CAGR of 12.7 percent to $744 billion by 2026, notwithstanding the COVID-19 situation. According to the International Air Transport Association (IATA), worldwide airlines will lose around $12 billion in 2022, up from estimated losses of $52 billion in 2021. Expedia Group, Inc., a digital travel agency, was a substantial income provider that helped several airline businesses survive the epidemic. In the second quarter, revenue for the online travel company was $2.11 billion, up 273 percent year over year.
Insider Monkey looks at the 10 best airline stocks to buy today. As leisure travel gradually rebounds from its pandemic low, Frontier Group Holdings, Inc. reported an 184 percent year-over-year growth in revenue to $550 million. The airline flies customers to international locations in the Americas from 110 airports across the United States. Textron Inc. manufactures and commercializes business jets, tiltrotor systems, and commercial helicopters for military and commercial usage. The stock has gained 100.84 percent in the last year and 48.44 percent so far this year. Allegiant Travel Company is ranked eighth. Market analysts are also complimentary about the travel company. The company was owned by 29 of the 873 funds tracked by Insider Monkey at the end of June. SkyWest, Inc. is the seventh best airline company to purchase today, with a fleet of nearly 450 aircraft. The company’s revenue in the second quarter increased by 88 percent year over year to $657 million. Alaska Air Group, Inc. transports domestic passengers and freight across the United States. Flights to Mexico, Canada, Costa Rica, and Belize are also available. In the second quarter of 2021, passenger revenue climbed 338 percent year over year to $1.3 billion. For more details, click 10 Best Airline Stocks To Buy Today.
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