Southwest Airlines announced mass layoffs
Delta Air Lines Inc (NASDAQ:DAL) is in focus after the highly publicized Toronto crash on Monday, in which a flight from Minneapolis, operated by the carrier's regional jet subsidiary Endeavor Air, flipped upside down at Toronto Pearson International Airport. All 80 passengers and crew members were accounted for after evacuation, with those hurt reportedly only sustaining minor injuries.
At last glance, DAL was down 0.4% at $65.15. The stock isn't too far removed from its Jan. 22, record high of $69.98, carrying a 62.4% year-over-year lead. Plus, long-term support at the 80-day moving average helped capture last week's pullback.
Southwest Airlines Co (NYSE:LUV) also garnered attention yesterday, after announcing its first mass layoffs in company history. The 1,750 employees that will be laid off at Love Field in Dallas equate to roughly 15% of the air line's corporate positions.
Southwest Airlines stock has pulled back from its early morning surge, last seen trading near breakeven at $30.28. On the charts, shares have been chopping lower since their Dec. 5, 52-week high of $36.12. More recently, LUV bounced off the 200-day moving average and finished the last three sessions higher. Year over year, the equity is down 10.7%.