三月份的美国航空公司股票跌幅超过20％

美国航空公司的股票，包括三角洲航空公司，美国航空，联合航空公司和捷蓝航空公司，销量超过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.

美国航空公司的股票，包括三角洲航空公司（NYSE：DAL），美国航空公司（NASDAQ：AAL）和联合航空公司（NASDAQ：UAL），在3月下降了22％以上，随着消费者信心，关税不确定性和边境政策的下降。

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.

由于需求低于预期的需求，几家承运人还被迫降低价格和可用的座位，这些需求还涉及致命事故，恶劣天气，洛杉矶野火，经济衰退的恐惧和政府业务下滑。但是，尚未宣布削减重大容量，因为航空公司希望目前的不确定性在夏季高峰季节之前就可以缓解。

"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分析师汤姆·菲茨杰拉德（Tom Fitzgerald）说：“今年我期望这是航空公司的蓝天年。” “现在到处都是云，还不清楚他们何时要消散。”

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.

尽管消费者的信心上个月降至四年低点，但分析师指出，公司旅行的下降可能是影响航空公司收入的关键因素。关税和波动边境政策周围的不确定性说服了汽车和国防部门的几家公司取消商务旅行，这些商务通常是在旅行时更接近的。

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

梅利乌斯分析师康纳·坎宁安（Conor Cunningham）表示，政府旅行占多家运营商收入的近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）是公司旅行的首选航空公司，对公司构成了重大挑战。上个月，三角洲将其第一季度的收入增长指导从7％降至3％至4％，至9％。尽管首席执行官埃德·巴斯蒂安（Ed Bastian）最近表示，它已经调整了价格以吸引更多旅行者，但该航空公司在夏季之前并没有降低容量。

"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.

菲茨杰拉德补充说：“他们不想反应过度，从市场上抽出过多的供应，然后事情恢复了比他们预期的要快的速度，而且他们在峰季节错过了。”

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，分析师解释说，美国航空公司（NASDAQ：AAL）正在华盛顿特区市场飞行较小的座位，而加拿大航空（TSX：AC）的供应量略有下降。

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，首席执行官斯科特·柯比（Scott Kirby）上个月透露，联合航空公司（NASDAQ：UAL）正在退休21架需要发动机升级但计划在夏季后期减少供应的飞机，Scott Kirby上个月透露。

"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.

柯比在三月会议上说：“希望泉永恒，这是夏季的山峰。” “但是到我们到八月的时候……每位分析师都将写有关削减能力和供应变化的文章。”据他说，联合航空的目的是吸引休闲旅行者，以减轻减少商业和政府相关预订的影响。

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.

如果企业旅行需求持续低，坎宁安预计，像三角洲这样的航空公司将采取一项策略来通过降低门票价格并允许预订以后的日期来吸引休闲旅行者。

"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."

坎宁安说：“当每个人都在自己的车道上时，整个行业都可以工作。” “当这种情况发生时，这对整个行业来说是负面的。”

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降低了其对美国航空公司（NASDAQ：AAL），三角洲航空公司（NYSE：DAL）和Sun Countrine Airlines（NASDAQ：SNCY）的第一季度利润估计，此前这些公司最近对其近期预测进行了更新。该经纪公司还将美国航空公司，三角洲和联合航空公司（纳斯达克股票代码：UAL）的股票目标降低到26美元，82美元和150美元，从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.

分析师说：“随着投资者消化收入弱点的幅度，该行业将在接下来的8-10周内保持波动，并在广泛的经济和就业状态以及价格季节预订等关键行业指标（例如，更广泛的经济和就业方式）中寻求对美国贸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，分析师对西南航空公司（NYSE：SO）和JetBlue Airways（NASDAQ：JBLU）的第一季度收益估算提高了，预计会狭窄的较狭窄的损失。

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月下旬以来，这对美国航空公司来说是一个“令人沮丧的时期”，因为尽管航空公司努力通过阻止座位来利用更高的最后一刻票价，但需求并未实现。

"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.

菲茨杰拉德补充说：“他们现在在2q及以后的预订曲线中销售较早，这将导致平均票价较低，所有其他相同，但产生收入远胜于库存破坏。”他得出的结论是，增加的贸易关税也可能会影响未来季度的航空公司行业。