“The main point of pressure for the airlines is that the possibilities of a recession in the United States have increased due to recent statements by Jerome Powell to control inflation. If the scenario crystallizes, it will tend to strongly slow down passenger demand, while fuel costs remain at high levels”, said Alejandra Marcos, Director of Analysis and Strategy at Intercam.
Analysts mentioned that the correction is generalized, all airlines worldwide have the same trend, and that is that, in annual terms, the cost of jet fuel has increased by about 80%.
“Although the long-term outlook is positive for the company, leveraging its leadership in the sector in Mexico, the environment of higher interest rates limits, in our opinion, a significant revaluation in the multiples,” said José in a report. Espitia, deputy director of stock market research at Banorte.
Other shares of the sector that presented significant falls in the world were Delta Air Lines with a fall of 3.55%; Qatar Airlines, with 2.92%; Emirates, with 0.79% and United Airlines, with 0.60%.