Airline stocks got a boost Monday as the coronavirus relief bill that was signed by President Trump Sunday night provided $15 billion in aid for the airline industry.
While the amount of aid is lower than the previous $25 billion in payroll aid that expired on Sept. 30, several airlines told ABC News that they would either no longer furlough employees or recall the employees that had already been furloughed.
Shares of American Airlines Group (AAL) - Get Report jumped 3.1% to $16.15 on the news, while Delta Air Lines (DAL) - Get Report shares climbed 1.85% to $40.47, United Continental (UAL) - Get Report rose 1.8% to $44.05 and Southwest Airlines (LUV) - Get Report rose 0.4% to $46.45.
Airline stocks may have also benefited after the Transportation Security Administration said it recorded the largest number of airline travelers since the start of the coronavirus pandemic over the holiday weekend.
The TSA said it screened 1.28 million people at airport security across the country on Sunday alone. And Sunday's total was the sixth time in 10 days that daily volume topped 1 million, according to the agency.
However, those numbers were still well below last year's pre-coronavirus travel numbers. Nearly 2.6 million people traveled on December 27, 2019, for example, more than double Sunday's total.
“Yesterday was the highest number of passenger volume since the pandemic started. People are traveling for the holidays, and it’s expected to be high Monday with a lot of people traveling home," said TSA spokesperson Lisa Farbstein, according to the Washington Post.
April 14 marked 2020's travel day with the fewest passengers, with just 87,500 people flying nationwide after the outbreak forced nationwide closures.