1204 ET - TD Cowen says many investors are bearish on airlines over concerns travel spending will continue to weaken, the impact of price declines from discounting and the risk that premium and U.S. outbound international travel start to decline. The analysts say in a research note that the climate is adding risk to 2H25 and 2026 estimates. "We can also envision another structural shift down in business travel as it's an easier category of spend for CFOs to cut," they add. But they also say they can an envision a better long-term dynamic for the industry "if full-service carriers can demonstrate their margins are more resilient in a downturn and ultra-low-cost carriers shrink/consolidate." For now, the analysts say they think the sector may be rangebound until data confirms the direction of the economy. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 18, 2025 12:04 ET (16:04 GMT)
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