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U.S. Airlines Industry Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies16
  • 7D-2.2%
  • 3M-12.9%
  • 1Y32.0%
  • YTD-13.9%

Over the last 7 days, the Airlines industry has dropped 2.2%, driven by a pullback from Southwest Airlines of 5.7%. Meanwhile, Grupo Aeroméxico. de actually outperformed within the industry, gaining 6.6% in the last week. In the past year, the industry has gained 32%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

Has the U.S. Airlines Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Apr 2026US$111.6bUS$205.3bUS$8.5b8.8x13.1x0.5x
Fri, 27 Feb 2026US$139.4bUS$210.0bUS$7.4b10.7x18.9x0.7x
Sun, 25 Jan 2026US$135.4bUS$209.3bUS$7.1b9.4x19.1x0.6x
Tue, 23 Dec 2025US$138.8bUS$207.9bUS$6.7b10.5x20.7x0.7x
Thu, 20 Nov 2025US$113.6bUS$206.0bUS$6.6b8.8x17.2x0.6x
Sat, 18 Oct 2025US$122.5bUS$205.8bUS$7.2b9.8x17.1x0.6x
Mon, 15 Sep 2025US$123.8bUS$204.5bUS$7.1b10.5x17.5x0.6x
Wed, 13 Aug 2025US$124.8bUS$210.3bUS$6.8b10.3x18.3x0.6x
Fri, 11 Jul 2025US$108.4bUS$209.5bUS$6.6b12.7x16.3x0.5x
Sun, 08 Jun 2025US$106.8bUS$209.0bUS$6.6b11.5x16.1x0.5x
Tue, 06 May 2025US$93.9bUS$204.6bUS$7.3b10.5x12.9x0.5x
Thu, 03 Apr 2025US$91.8bUS$201.1bUS$6.7b11.3x13.7x0.5x
Sat, 01 Mar 2025US$115.3bUS$205.5bUS$5.8b12.4x19.7x0.6x
Mon, 27 Jan 2025US$128.5bUS$199.8bUS$6.3b12.5x20.6x0.6x
Wed, 25 Dec 2024US$123.9bUS$196.3bUS$7.0b12x17.8x0.6x
Fri, 22 Nov 2024US$117.0bUS$196.6bUS$7.1b11.2x16.4x0.6x
Sun, 20 Oct 2024US$103.2bUS$183.1bUS$6.4b13x16.1x0.6x
Tue, 17 Sep 2024US$83.6bUS$182.6bUS$6.4b11.3x13.1x0.5x
Thu, 15 Aug 2024US$72.8bUS$182.6bUS$6.4b9.7x11.4x0.4x
Sat, 13 Jul 2024US$82.2bUS$181.9bUS$6.5b12.4x12.5x0.5x
Mon, 10 Jun 2024US$88.2bUS$180.8bUS$7.0b12x12.6x0.5x
Wed, 08 May 2024US$91.5bUS$195.1bUS$7.2b9.4x12.6x0.5x
Fri, 05 Apr 2024US$85.7bUS$190.7bUS$7.5b10.2x11.5x0.4x
Sun, 03 Mar 2024US$86.3bUS$190.9bUS$7.2b11.1x12x0.5x
Tue, 30 Jan 2024US$81.6bUS$193.5bUS$7.1b10.2x11.6x0.4x
Thu, 28 Dec 2023US$86.3bUS$190.8bUS$6.0b10.9x14.3x0.5x
Sat, 25 Nov 2023US$73.8bUS$190.7bUS$6.1b9.6x12.2x0.4x
Mon, 23 Oct 2023US$66.5bUS$189.1bUS$7.2b10.1x9.2x0.4x
Wed, 20 Sep 2023US$79.8bUS$186.1bUS$6.5b10.4x12.2x0.4x
Fri, 18 Aug 2023US$88.7bUS$186.3bUS$6.5b11.7x13.6x0.5x
Sun, 16 Jul 2023US$100.5bUS$185.3bUS$5.1b24.2x19.6x0.5x
Tue, 13 Jun 2023US$89.1bUS$171.6bUS$3.2b25.1x27.9x0.5x
Thu, 11 May 2023US$77.0bUS$171.2bUS$3.1b22x24.9x0.4x
Sat, 08 Apr 2023US$76.8bUS$160.9bUS$920.3m18.9x83.4x0.5x
Price to Earnings Ratio

83.4x


Total Market Cap: US$76.8bTotal Earnings: US$920.3mTotal Revenue: US$160.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Airlines Industry Price to Earnings3Y Average 16.7x202420252026
Current Industry PE
  • Investors are pessimistic on the American Airlines industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 13.1x which is lower than its 3-year average PE of 16.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.51x.
Past Earnings Growth
  • The earnings for companies in the Airlines industry have grown 110% per year over the last three years.
  • Revenues for these companies have grown 8.5% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Industrials industry?

US Market-0.61%
Industrials-1.44%
Airlines-2.17%
Airlines-2.17%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AERO Grupo Aeroméxico. deUS$14.016.6%
+US$126.9m		n/aPE5.8x
JBLU JetBlue AirwaysUS$4.425.5%
+US$85.1m		-7.5%PS0.2x
AAL American Airlines GroupUS$10.740.3%
+US$19.8m		4.3%PE63.9x
ULCC Frontier Group HoldingsUS$3.531.4%
+US$11.5m		-18.3%PS0.2x
RJET Republic Airways HoldingsUS$17.880.8%
+US$6.6m		n/aPE11x

Latest News

ALK
US$36.78
Alaska Air Group
7D
-4.4%
1Y
-25.0%
DAL
US$66.48
Delta Air Lines
7D
-0.3%
1Y
56.7%

DAL: Premium Demand And Limited Fuel Sensitivity Will Support 2026 Earnings Profile

Analysts nudged the average price target for Delta Air Lines slightly lower to around $80. They cited the impact of higher fuel cost assumptions, while also highlighting resilient demand, modestly firmer revenue growth and margin expectations, and a P/E multiple that remains broadly in line with prior views.
JBLU
US$4.42
JetBlue Airways
7D
5.5%
1Y
-7.5%

JBLU: Stronger Domestic Demand And Fees Will Support 2026 Margin Repair

JetBlue Airways' updated analyst price target has edged lower by a small amount, reflecting research that cites higher assumed fuel costs and mixed target moves across firms, even as some analysts see revenue trends helping to partially offset these pressures. Analyst Commentary Recent research on JetBlue points to a split view, with some analysts focusing on cost headwinds and others highlighting potential support from revenue trends and improving fundamentals.
LUV
US$37.57
Southwest Airlines
7D
-5.7%
1Y
18.9%
CPA
US$113.61
Copa Holdings
7D
-0.5%
1Y
24.5%
AAL
US$10.74
American Airlines Group
7D
0.3%
1Y
4.3%
SOAR
US$0.23
Volato Group
7D
-15.7%
1Y
-85.9%
ULCC
US$3.53
Frontier Group Holdings
7D
1.4%
1Y
-18.3%

ULCC: Higher Future Multiple And Capacity Concerns Will Shape Earnings Path

The analyst price target for Frontier Group Holdings has been cut by $0.50 to $3.50, as analysts factor in recent downgrades, lower targets around $4, concerns over off peak capacity and financial leverage, and mixed views on future earnings strength that are reflected in a higher assumed future P/E multiple. Analyst Commentary Recent research has leaned cautious on Frontier Group Holdings, with several bearish analysts cutting price targets into a tighter band around $4 and shifting ratings lower.
SNCY
US$16.52
Sun Country Airlines Holdings
7D
-2.9%
1Y
42.7%

SNCY: Merger And Margin Expansion Plans Will Drive Future Upside

Analysts have nudged the fair value estimate for Sun Country Airlines Holdings up from $22.00 to $23.00, tying the change to updated views on revenue growth, margin potential and valuation following a mix of recent upgrades, downgrades and price target revisions across the Street. Analyst Commentary Recent Street research on Sun Country Airlines reflects a mix of views, but the key positive threads cluster around margins, business mix and how those factors could tie into valuation.
UAL
US$92.07
United Airlines Holdings
7D
-1.6%
1Y
35.0%

UAL: Q1 Demand Strength And Premium Travel Resilience Will Drive Upside

The updated analyst price target for United Airlines Holdings reflects a modest trim to $135.52 from $138.60, as analysts factor in higher fuel cost assumptions and slightly lower profit margins, while still pointing to resilient demand and revenue trends. Analyst Commentary Recent research on United Airlines Holdings highlights a mix of optimism on demand and revenue trends alongside caution around fuel costs, margins, and guidance risk.
ALGT
US$81.04
Allegiant Travel
7D
-3.1%
1Y
59.4%

ALGT: Flat 2026 Capacity And Acquisition Integration Will Support Higher Earnings Multiple

Analysts trimmed their price target for Allegiant Travel to about $111 from roughly $114, reflecting updated assumptions that combine slightly higher fuel cost expectations with still supportive revenue trends and modestly higher future P/E multiples across recent research. Analyst Commentary Recent research on Allegiant Travel shows a mix of optimism and caution, with price targets moving in both directions and ratings centered around Neutral to Outperform.
AERO
US$14.01
Grupo Aeroméxico. de
7D
6.6%
1Y
n/a
RJET
US$17.88
Republic Airways Holdings
7D
0.8%
1Y
n/a
JOBY
US$8.26
Joby Aviation
7D
-8.1%
1Y
39.3%
UP
US$0.52
Wheels Up Experience
7D
1.0%
1Y
-47.2%