Flights throughout Europe Monday reportedly were experiencing delays due to issues with air traffic control in the United Kingdom International airline stocks appeared mostly unaffected Monday, with United Airlines and Delta Air Lines edging higher.
Passengers on flights all over Europe have been advised of long delays Monday. NATS, the U.K. air traffic controller, announced it is "experiencing a technical issue and have applied traffic flow restrictions to maintain safety."
Travelers took to X, formerly Twitter, to share their experiences. One person flying out of Budapest wrote she had been told her plane could be sitting on the tarmac for 12 hours due to the U.K. airspace issue.
Meanwhile, Ireland-based air carrier Ryanair reversed early losses and gained 0.8% Monday. UAL edged up 0.5% with DAL also advancing 1.7% Monday.
Airline stocks, one of the stock market's top-performing sectors early in the year, have sold off aggressive since mid-July.
Delta, United and American are all well below key levels of technical support, with significant work to do before they would offer valid base patterns.
Still, the IBD-tracked Transportation-Airline industry group has narrowly outperformed the S&P 500 index this year. The 20 stocks have collectively gained around 16% in 2023 vs. the S&P 500's 15.2% advance.
Delta has been operating more than 650 weekly flights to 32 locations in Europe throughout the summer, according to the air carrier. United also added international flight options for this summer, including Stockholm, additional flights to Rome, Paris, Barcelona, Berlin and Edinburgh. United also claims to operate two dozen daily flights to London-Heathrow Airport.
Please follow Kit Norton on Twitter @KitNorton for more coverage.
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