Not A Good Day To Be A British Airline
Think you lost some money in the market on Friday? It could be worse. You could be a British airline. With Brexit having been approved, investors lost faith in the British Pound, as well as the region’s economy and consumers’ ability to get around it (to make a long story short, of course). Since economic growth is one of the key drivers of airline stocks, well, look out below.
Ryan Air was the big “winner” on the day, with its stock price dropping just over 4% after having started the day down 15%.
Others didn’t fare so well. Discounter easyJet started the day down 20% and ended down 14% on the day. But the loser among losers was British Airways parent IAG, which started the day down by a whopping 34% and finished down almost 23% on the day. There’s a reason that one of the better airline analysts that I know once described the industry by saying, “Investing in airline stocks may be hazardous to your wealth.”
Southwest Airlines Increased Credit Card Bonus Still Available
Southwest Airlines still has its 50,000 Rapid Rewards points credit card bonus available. As I discussed about six weeks ago, this card is extraordinarily valuable for Southwest frequent flyers, given its assistance in getting you to a free companion pass.
To get the card, click on any banner at the bottom of the Credit Cards for Charity page. In the drop down menu at the top, click on “Card Type” and then “Chase,” as seen here:
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