A Spirit Airlines jet taxis from Newark Liberty International Airport in Newark, New Jersey, U.S. December 6, 2019.
REUTERS/Chris Helgren/File PhotoAug 3 (Reuters) - U.S. travel stocks fell in early trading on Thursday following downbeat quarterly reports from Spirit Airlines (SAVE.N) and Expedia (EXPE.O) that amplified concerns domestic demand may be easing after a strong rebound from pandemic lows.
Spirit, which mainly operates on domestic routes, also forecast weaker-than-expected revenue for the third quarter, with Citi analysts citing the effect from travel demand shifting to international from domestic.
Adding to the gloom, online travel firm Expedia Inc (EXPE.O) reported smaller-than-expected bookings for the second quarter, even as it said travel demand remained "strong."
"We believe this is further evidence of softening in U.S. travel demand trends while international growth continues to outperform," Wedbush analyst Scott Devitt said in a note.
Persons:
Chris Helgren, Gross, Scott Devitt, airfares, Priyamvada, Kannaki, Pratyush Thakur, Sriraj
Organizations:
Spirit Airlines, Newark Liberty International Airport, REUTERS, Citi, Southwest Airlines, Alaska Air, Delta Air Lines, United Airlines, American Airlines, Expedia Inc, Thomson
Locations:
Newark , New Jersey, U.S, Southwest, Bengaluru