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US Airlines rally on United Outlook; little pass through to local names

CREDIT UPDATE

US airlines are reversing their post-Delta earnings woes from 2 weeks ago after United posted strong Q4 & FY24 outlook (adj. EPS $9-11 vs. c$9.45) overnight - analyst takes https://blinks.bloomberg.com/news/stories/S7PXU5DWRGG0. United, American & Delta all posting strong gains (4-7%) on the open - seems to have had little pass-through to local airline names - Lufthansa (+2%), IAG/British Airways (+2.2%), Air France-KLM (+1%) - beat seems driven by domestic passenger growth (though we don't see analyst forecasts for Euro rev's to see its contribution).

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