Tom Lydon of ETF Trends writes that the airline industry strengthened after Delta Air Lines reported revenue of $11.11 billion for the third quarter ended September 30, beating analysts’ expectations. This helped give the U.S. Global Jets ETF (JETS) a strong boost on October 14.
Delta’s higher profits, Lydon says, are related to continued low fuel costs.
“Analysts project the six largest carriers could generate a collective adjusted profit of $5.9 billion, a record for the third quarter,” he writes.
Article summary written by U.S. Global Investors.