三月份的美國航空公司股票跌幅超過20％

美國航空公司的股票，包括三角洲航空公司，美國航空，聯合航空公司和捷藍航空公司，銷量超過22％

U.S. airline stocks, including Delta Air Lines (NYSE:DAL), American Airlines (NASDAQ:AAL), and United Airlines (NASDAQ:UAL), plummeted by over 22% in March amid declining consumer confidence, tariff uncertainty, and border policies.

美國航空公司的股票，包括三角洲航空公司（NYSE：DAL），美國航空公司（NASDAQ：AAL）和聯合航空公司（NASDAQ：UAL），在3月下降了22％以上，隨著消費者信心，關稅不確定性和邊境政策的下降。

Several carriers were also forced to reduce prices and available seating in response to lower-than-expected demand, which also factored in fatal accidents, severe weather, the Los Angeles wildfires, recession fears, and a slump in government business. However, no major capacity cuts have been announced yet, as airlines are hoping the current uncertainty will ease ahead of the peak summer season.

由於需求低於預期的需求，幾家承運人還被迫降低價格和可用的座位，這些需求還涉及致命事故，惡劣天氣，洛杉磯野火，經濟衰退的恐懼和政府業務下滑。但是，尚未宣布削減重大容量，因為航空公司希望目前的不確定性在夏季高峰季節之前就可以緩解。

"I went into this year expecting it to be a blue sky year for airlines," said TD Cowen analyst Tom Fitzgerald. "Now it's just kind of clouds everywhere, and it's unclear when they're going to dissipate."

TD Cowen分析師湯姆·菲茨杰拉德（Tom Fitzgerald）說：“今年我期望這是航空公司的藍天年。” “現在到處都是雲，還不清楚他們何時要消散。”

While consumer confidence fell to a four-year low last month, analysts noted that a decline in corporate travel might be a key factor affecting airline revenues. Uncertainty around tariffs and volatile border policies persuaded several companies in the automotive and defense sectors to cancel business trips, which are typically booked closer to the time of travel.

儘管消費者的信心上個月降至四年低點，但分析師指出，公司旅行的下降可能是影響航空公司收入的關鍵因素。關稅和波動邊境政策周圍的不確定性說服了汽車和國防部門的幾家公司取消商務旅行，這些商務通常是在旅行時更接近的。

According to Melius analyst Conor Cunningham, government travel, which comprises nearly 2% of revenue for several carriers, has dropped by 50%.

梅利烏斯分析師康納·坎寧安（Conor Cunningham）表示，政府旅行佔多家運營商收入的近2％，已下降了50％。

Delta (NYSE:DAL) is a preferred carrier for corporate travel, posing a significant challenge for the company. Last month, Delta slashed its Q1 revenue growth guidance to 3% to 4% from 7% to 9% earlier. While CEO Ed Bastian recently stated that it has adjusted prices to attract more travelers, the airline isn't reducing capacity ahead of the summer season.

Delta（NYSE：DAL）是公司旅行的首選航空公司，對公司構成了重大挑戰。上個月，三角洲將其第一季度的收入增長指導從7％降至3％至4％，至9％。儘管首席執行官埃德·巴斯蒂安（Ed Bastian）最近表示，它已經調整了價格以吸引更多的旅行者，但該航空公司在夏季之前並沒有降低容量。

"They don't want to overreact and pull too much supply out of the market, and then things get back on track faster than they expect, and they miss out on the peak season," Fitzgerald added.

菲茨杰拉德補充說：“他們不想反應過度，從市場上抽出過多的供應，然後事情恢復了比他們預期的要快的速度，而且他們在峰季節錯過了。”

Moreover, American Airlines (NASDAQ:AAL) is flying a smaller plane with fewer seats in the Washington, DC market, while Air Canada (TSX:AC) has slightly decreased supply in the U.S.-Canada cross-border market, the analyst explained.

此外，分析師解釋說，美國航空公司（NASDAQ：AAL）正在華盛頓特區市場飛行較小的座位，而加拿大航空（TSX：AC）的供應量略有下降。

Furthermore, United Airlines (NASDAQ:UAL) is retiring 21 aircraft that require engine upgrades but is planning to reduce supply in the latter part of the summer at the earliest, CEO Scott Kirby disclosed last month.

此外，首席執行官斯科特·柯比（Scott Kirby）上個月透露，聯合航空公司（NASDAQ：UAL）正在退休21架需要發動機升級但計劃在夏季後期減少供應的飛機，Scott Kirby上個月透露。

"Hope springs eternal, and it is the summer peak," Kirby mentioned during a March conference. "But by the time we get to August ... every analyst is going to be writing about the capacity cuts and the supply changes." According to him, United Airlines aims to attract leisure travelers to mitigate the impact of reduced business and government-related bookings.

柯比在三月會議上說：“希望泉永恆，這是夏季的山峰。” “但是到我們到八月的時候……每位分析師都將寫有關削減能力和供應變化的文章。”據他說，聯合航空的目的是吸引休閒旅行者，以減輕減少商業和政府相關預訂的影響。

If the low corporate travel demand persists, Cunningham anticipates that airlines like Delta will adopt a strategy to entice leisure travelers by lowering ticket prices and allowing bookings for later dates.

如果企業旅行需求持續低，坎寧安預計，像三角洲這樣的航空公司將採取一項策略來通過降低門票價格並允許預訂以後的日期來吸引休閒旅行者。

"This whole industry works when everyone's in their own lane," Cunningham remarked. "It's a net negative for the overall industry when something like that is happening."

坎寧安說：“當每個人都在自己的車道上時，整個行業都可以工作。” “當這種情況發生時，這對整個行業來說是負面的。”

TD Cowen downgraded its Q1 profit estimates for American Airlines (NASDAQ:AAL), Delta Air Lines (NYSE:DAL), and Sun Country Airlines (NASDAQ:SNCY) following recent updates from the companies regarding their near-term projections. The brokerage also decreased its stock price target for American Airlines, Delta, and United Airlines (NASDAQ:UAL) to $26, $82, and $150, respectively, from $30, $90, and $160.

TD Cowen降低了其對美國航空公司（NASDAQ：AAL），三角洲航空公司（NYSE：DAL）和Sun Countrine Airlines（NASDAQ：SNCY）的第一季度利潤估計，此前這些公司最近對其近期預測進行了更新。該經紀公司還將美國航空公司，三角洲和聯合航空公司（納斯達克股票代碼：UAL）的股票目標降低到26美元，82美元和150美元，從30美元，$ 90和160美元。

"We expect the sector to remain volatile over the next 8-10 weeks as investors digest the magnitude of the revenue weakness, and look for greater clarity on the direction of U.S. trade policy from here, the state of the broader economy and employment, as well as key industry metrics such as pricing, peak season bookings," the analyst stated.

分析師說：“隨著投資者消化收入弱點的幅度，該行業將在接下來的8-10週內保持波動，並在廣泛的經濟和就業狀態以及價格季節預訂等關鍵行業指標（例如，更廣泛的經濟和就業方式）中尋求對美國貿易政策的方向的更加清晰度。”

However, analysts upgraded their Q1 earnings estimates for Southwest Airlines (NYSE:SO) and JetBlue Airways (NASDAQ:JBLU), anticipating narrower-than-earlier-estimated losses.

但是，分析師對西南航空公司（NYSE：SO）和JetBlue Airways（NASDAQ：JBLU）的第一季度收益估算提高了，預計會狹窄的較狹窄的損失。

Fitzgerald pointed out that it has been a "frustrating period" for U.S. airlines since late January, as demand has not materialized despite the airlines' efforts to capitalize on higher last-minute fares by holding back seats.

菲茨杰拉德（Fitzgerald）指出，自1月下旬以來，這對美國航空公司來說是一個“令人沮喪的時期”，因為儘管航空公司努力通過阻止座位來利用更高的最後一刻票價，但需求並未實現。

"They are now selling earlier in the booking curve for 2Q and beyond, which will result in lower average fares, all else equal, but generating revenue is better than inventory spoiling," Fitzgerald added. He concluded that increased trade tariffs could also affect the airline industry in the upcoming quarters.

菲茨杰拉德補充說：“他們現在在2q及以後的預訂曲線中銷售較早，這將導致平均票價較低，所有其他相同，但產生收入遠勝於庫存破壞。”他得出的結論是，增加的貿易關稅也可能會影響未來季度的航空公司行業。