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    <p class=&quot;wp-caption-text&quot;>People make their way through a flooded street during the aftermath of Hurricane Harvey on August 29, 2017 in Houston, Texas.Floodwaters have breached a levee south of the city of Houston, officials said Tuesday, urging residents to leave the area immediately. / AFP PHOTO / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)</p> 
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<p><span>It doesn’t compare to what the people and city of Houston are suffering, but Hurrican</span>e Harvey is battering travelers, the airlines and airline stocks as well.&amp;nbsp; With over 50 inches of rain and flooding everywhere, Houston’s airports are closed, stranding passengers and affecting 3000 flights nationwide. Planes, pilots and other personnel are stuck in Houston or grounded elsewhere.</p> 
<p>The national transportation system has been significantly affected, because, as <a href=&quot;https://www.forbes.com/sites/danielreed/2017/08/28/with-houstons-two-airports-under-water-travelers-nationwide-will-be-feeling-the-effects-of-harvey/#235b382e3180&quot; target=&quot;_self&quot;>Dan Reed pointed out</a> this week, Houston hosts two major air transportation hubs. United’s hub at Bush Intercontinental Airport normally operates over 480 flights a day, carrying over 42,000 passengers. At Houston Hobby, Southwest operates 152 flights for about 20,000 people each day.</p> 
<p> 
 </p> 
<p><span>(Full disclosure, I own stock in Southwest Airlines.)</span></p> 
<p>The financial consequences of cancelling thousands of flights are significant. &amp;nbsp;A<span>nalyst Helane Becker of Cowen and Company notes that&amp;nbsp;</span>United Continental (<a href=&quot;https://seekingalpha.com/symbol/UAL&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>UAL</a>) will see a negative impact of $266 million due to Hurricane Harvey. She estimates that Southwest is in for a $77M loss. And even upstart Spirit (SAVE) will lose more than peanuts, with an $11M ding to the bottom line. &amp;nbsp;(These assumptions are based on the airports reopening August 31.)</p> 
<p>Still, quick thinking by Southwest managers cut some costs, and more importantly, accommodated hundreds of passengers. &amp;nbsp;Ten Southwest 737s are still stuck at Hobby, but five planes escaped and <a href=&quot;http://www.cnn.com/2017/08/27/us/southwest-humanitarian-airlift-hobby-airport/index.html&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;>managed to rescue 500 stranded passengers</a>.</p> 
<div class=&quot;vestpocket&quot; vest-pocket=&quot;&quot;></div> 
<p>The airline index on the NYSE, XAL, has recently taken a battering, but only some of this can be attributed to Harvey. &amp;nbsp;XAL a<span>Tctually closed up on Tuesday, August 29, at 105.67 (+0.36%) but is down 5.91% over the last month, and 4.73% year to date.&amp;nbsp;</span>Other financial concerns for airlines include price pressure from falling ticket prices, (like the recent <a href=&quot;https://www.forbes.com/sites/michaelgoldstein/2017/08/28/europe-for-69-justay-wow/#3ef928073be7&quot; target=&quot;_self&quot;>WOW $69 sale</a>), computer and system problems resulting in outages and cancellations, notorious bumpings and beatings, and higher labor costs. Terrorism, like the <a href=&quot;https://www.forbes.com/sites/michaelgoldstein/2017/08/25/i-let-my-son-fly-to-barcelona-after-the-terror-attacks/#36d85d9d5682&quot; target=&quot;_self&quot;>Barcelona attacks</a> earlier this month, may also have discouraged some potential international travelers.</p> 
<p>Individual airlines are also feeling the pain, both from the hurricane and a less-than-perfect-storm of market conditions. Southwest, (LUV) which hit its yearly high of 64.39 in July, closed at 51.46 (-0.56%) on August 29, which represents a 20% decline from its peak. But at least Southwest is still up 3.25% year to date.&amp;nbsp;<span>Delta, which like Southwest hit its year's peak of 55.75 in July, closed August 29 at 46.62 &amp;nbsp;(-0.7%) and is down -5.22 YTD. American is down 4.56% YTD, and United closed at the end of trading on August 29 at 62.89 (-0.41%), part of a year-to-date decline of 13.71%.</span></p>"><div id="attachment_840594602" class="wp-caption alignnone"> 
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  <div class="caption-container" ng-class="caption_state"> 
   <fbs-accordion current="0"> 
    <p class="wp-caption-text">People make their way through a flooded street during the aftermath of Hurricane Harvey on August 29, 2017 in Houston, Texas.Floodwaters have breached a levee south of the city of Houston, officials said Tuesday, urging residents to leave the area immediately. / AFP PHOTO / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)</p> 
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<p class="speakable-paragraph"><span>It doesn’t compare to what the people and city of Houston are suffering, but Hurrican</span>e Harvey is battering travelers, the airlines and airline stocks as well.&nbsp; With over 50 inches of rain and flooding everywhere, Houston’s airports are closed, stranding passengers and affecting 3000 flights nationwide. Planes, pilots and other personnel are stuck in Houston or grounded elsewhere.</p> 
<p>The national transportation system has been significantly affected, because, as <a href="https://www.forbes.com/sites/danielreed/2017/08/28/with-houstons-two-airports-under-water-travelers-nationwide-will-be-feeling-the-effects-of-harvey/#235b382e3180" target="_self">Dan Reed pointed out</a> this week, Houston hosts two major air transportation hubs. United’s hub at Bush Intercontinental Airport normally operates over 480 flights a day, carrying over 42,000 passengers. At Houston Hobby, Southwest operates 152 flights for about 20,000 people each day.</p> 
<p> 
 </p> 
<p><span>(Full disclosure, I own stock in Southwest Airlines.)</span></p> 
<p>The financial consequences of cancelling thousands of flights are significant. &nbsp;A<span>nalyst Helane Becker of Cowen and Company notes that&nbsp;</span>United Continental (<a href="https://seekingalpha.com/symbol/UAL" target="_blank" rel="nofollow">UAL</a>) will see a negative impact of $266 million due to Hurricane Harvey. She estimates that Southwest is in for a $77M loss. And even upstart Spirit (SAVE) will lose more than peanuts, with an $11M ding to the bottom line. &nbsp;(These assumptions are based on the airports reopening August 31.)</p> 
<p>Still, quick thinking by Southwest managers cut some costs, and more importantly, accommodated hundreds of passengers. &nbsp;Ten Southwest 737s are still stuck at Hobby, but five planes escaped and <a href="http://www.cnn.com/2017/08/27/us/southwest-humanitarian-airlift-hobby-airport/index.html" target="_blank" rel="nofollow">managed to rescue 500 stranded passengers</a>.</p> 
<div class="vestpocket" vest-pocket=""></div> 
<p>The airline index on the NYSE, XAL, has recently taken a battering, but only some of this can be attributed to Harvey. &nbsp;XAL a<span>Tctually closed up on Tuesday, August 29, at 105.67 (+0.36%) but is down 5.91% over the last month, and 4.73% year to date.&nbsp;</span>Other financial concerns for airlines include price pressure from falling ticket prices, (like the recent <a href="https://www.forbes.com/sites/michaelgoldstein/2017/08/28/europe-for-69-justay-wow/#3ef928073be7" target="_self">WOW $69 sale</a>), computer and system problems resulting in outages and cancellations, notorious bumpings and beatings, and higher labor costs. Terrorism, like the <a href="https://www.forbes.com/sites/michaelgoldstein/2017/08/25/i-let-my-son-fly-to-barcelona-after-the-terror-attacks/#36d85d9d5682" target="_self">Barcelona attacks</a> earlier this month, may also have discouraged some potential international travelers.</p> 
<p>Individual airlines are also feeling the pain, both from the hurricane and a less-than-perfect-storm of market conditions. Southwest, (LUV) which hit its yearly high of 64.39 in July, closed at 51.46 (-0.56%) on August 29, which represents a 20% decline from its peak. But at least Southwest is still up 3.25% year to date.&nbsp;<span>Delta, which like Southwest hit its year's peak of 55.75 in July, closed August 29 at 46.62 &nbsp;(-0.7%) and is down -5.22 YTD. American is down 4.56% YTD, and United closed at the end of trading on August 29 at 62.89 (-0.41%), part of a year-to-date decline of 13.71%.</span></p></div>
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	</app-root><script id="ng-templates-state" type="application/json">{&q;environmentName&q;:&q;prod&q;,&q;is_mobile&q;:false,&q;/forbesapi/content/uri.json?shortcodes=true&a;slides=true&a;type=ng&a;tickers=true&a;bvallpages=true&a;autovpslider=true&a;stream=true&a;compressimages=true&a;mobile=false&a;prgsmobileads=false&a;relativeVideo=true&a;videoplayertype=brightcove_perform_with_keyvalues&a;swimlane=&a;uri=http://www.forbes.com/sites/michaelgoldstein/2017/08/29/will-hurricane-harvey-wreak-havoc-on-airline-stocks/&q;:{&q;content&q;:{&q;id&q;:&q;content_59a5f80f64aaf97b128dd0dd&q;,&q;naturalId&q;:&q;blogAndPostId/blog/post/5076-158&q;,&q;source&q;:&q;blogs&q;,&q;author&q;:&q;Michael Goldstein&q;,&q;title&q;:&q;Will Hurricane Harvey Wreak Havoc On Airline Stocks?&q;,&q;date&q;:1504050840000,&q;body&q;:&q;&l;p&g;&a;nbsp;\r\n\r\n[caption id=\&q;attachment_840594602\&q; photocredit=\&q;\&q;  align=\&q;\&q; width=\&q;960\&q;]&l;img class=\&q;dam-image getty size-large wp-image-840594602\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/840594602/960x0.jpg?fit=scale\&q; data-height=\&q;641\&q; data-width=\&q;960\&q;&g; People make their way through a flooded street during the aftermath of Hurricane Harvey on August 29, 2017 in Houston, Texas.Floodwaters have breached a levee south of the city of Houston, officials said Tuesday, urging residents to leave the area immediately. / AFP PHOTO / Brendan Smialowski (Photo credit should read BRENDAN SMIALOWSKI/AFP/Getty Images)[/caption]\r\n\r\n&l;span&g;It doesn&a;rsquo;t compare to what the people and city of Houston are suffering, but Hurrican&l;/span&g;e Harvey is battering travelers, the airlines and airline stocks as well.&a;nbsp; With over 50 inches of rain and flooding everywhere, Houston&a;rsquo;s airports are closed, stranding passengers and affecting 3000 flights nationwide. Planes, pilots and other personnel are stuck in Houston or grounded elsewhere.\r\n\r\nThe national transportation system has been significantly affected, because, as &l;a href=\&q;https://www.forbes.com/sites/danielreed/2017/08/28/with-houstons-two-airports-under-water-travelers-nationwide-will-be-feeling-the-effects-of-harvey/#235b382e3180\&q;&g;Dan Reed pointed out&l;/a&g; this week, Houston hosts two major air transportation hubs. United&a;rsquo;s hub at Bush Intercontinental Airport normally operates over 480 flights a day, carrying over 42,000 passengers. At Houston Hobby, Southwest operates 152 flights for about 20,000 people each day.\r\n\r\n&l;span&g;(Full disclosure, I own stock in Southwest Airlines.)&l;/span&g;\r\n\r\nThe financial consequences of cancelling thousands of flights are significant. &a;nbsp;A&l;span&g;nalyst Helane Becker of Cowen and Company notes that&a;nbsp;&l;/span&g;United Continental (&l;a href=\&q;https://seekingalpha.com/symbol/UAL\&q; target=\&q;_blank\&q;&g;UAL&l;/a&g;) will see a negative impact of $266 million due to Hurricane Harvey. She estimates that Southwest is in for a $77M loss. And even upstart Spirit (SAVE) will lose more than peanuts, with an $11M ding to the bottom line. &a;nbsp;(These assumptions are based on the airports reopening August 31.)\r\n\r\nStill, quick thinking by Southwest managers cut some costs, and more importantly, accommodated hundreds of passengers. &a;nbsp;Ten Southwest 737s are still stuck at Hobby, but five planes escaped and &l;a href=\&q;http://www.cnn.com/2017/08/27/us/southwest-humanitarian-airlift-hobby-airport/index.html\&q; target=\&q;_blank\&q;&g;managed to rescue 500 stranded passengers&l;/a&g;.\r\n\r\nThe airline index on the NYSE, XAL, has recently taken a battering, but only some of this can be attributed to Harvey. &a;nbsp;XAL a&l;span&g;Tctually closed up on Tuesday, August 29, at 105.67 (+0.36%) but is down 5.91% over the last month, and 4.73% year to date.&a;nbsp;&l;/span&g;Other financial concerns for airlines include price pressure from falling ticket prices, (like the recent &l;a href=\&q;https://www.forbes.com/sites/michaelgoldstein/2017/08/28/europe-for-69-justay-wow/#3ef928073be7\&q;&g;WOW $69 sale&l;/a&g;), computer and system problems resulting in outages and cancellations, notorious bumpings and beatings, and higher labor costs. Terrorism, like the &l;a href=\&q;https://www.forbes.com/sites/michaelgoldstein/2017/08/25/i-let-my-son-fly-to-barcelona-after-the-terror-attacks/#36d85d9d5682\&q;&g;Barcelona attacks&l;/a&g; earlier this month, may also have discouraged some potential international travelers.\r\n\r\nIndividual airlines are also feeling the pain, both from the hurricane and a less-than-perfect-storm of market conditions. Southwest, (LUV) which hit its yearly high of 64.39 in July, closed at 51.46 (-0.56%) on August 29, which represents a 20% decline from its peak. But at least Southwest is still up 3.25% year to date.&a;nbsp;&l;span&g;Delta, which like Southwest hit its year&s;s peak of 55.75 in July, closed August 29 at 46.62 &a;nbsp;(-0.7%) and is down -5.22 YTD. American is down 4.56% YTD, and United closed at the end of trading on August 29 at 62.89 (-0.41%), part of a year-to-date decline of 13.71%.&l;/span&g;\r\n&l;!--nextpage--&g;\r\n\r\nSo while the hurricane will have a&a;nbsp;financial impact, it can hardly be assigned sole blame for the industry&a;rsquo;s malaise. If there is good news for airlines affected by the disruptions of Hurricane Harvey, it&a;rsquo;s that the flood waters will recede and schedules will slowly return to normal. Unfortunately, challenges like rising costs, lower ticket prices, technology malfunctions and terrorism cannot be resolved as simply.\r\n\r\n[caption id=\&q;attachment_38292113\&q; photocredit=\&q;\&q;  align=\&q;\&q; width=\&q;960\&q;]&l;img class=\&q;dam-image bloomberg size-large wp-image-38292113\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/38292113/960x0.jpg?fit=scale\&q; data-height=\&q;1439\&q; data-width=\&q;960\&q;&g; A Southwest Airlines Co. Boeing 737 airplane taxis past one of the airline&s;s new gates at the William P. Hobby Airport in Houston, Texas, U.S., on Thursday, Oct. 8, 2015. Starting Oct. 15, Southwest will embark on a major expansion in flying abroad, with daily nonstop departures to six cities in Latin America and the Caribbean from a new concourse in Houston&s;s William P. Hobby Airport. A second international terminal will open in 2017 in Fort Lauderdale, Florida. Photographer: F. Carter Smith/Bloomberg[/caption]&l;/p&g;&q;,&q;description&q;:&q;The airlines face several hundred million dollars in losses from Hurricane Harvey, but the storm is only one of the issues airlines and their stockholders have to face.&q;,&q;image&q;:&q;https://specials-images.forbesimg.com/imageserve/840594602/960x0.jpg?fit=scale&q;,&q;type&q;:&q;blog&q;,&q;storyType&q;:&q;post&q;,&q;uri&q;:&q;http://www.forbes.com/sites/michaelgoldstein/2017/08/29/will-hurricane-harvey-wreak-havoc-on-airline-stocks/&q;,&q;comments&q;:[],&q;visible&q;:true,&q;authors&q;:[{&q;naturalId&q;:&q;blogAuthorId/blog/author/3015598&q;,&q;name&q;:&q;Michael Goldstein&q;,&q;avatars&q;:[{&q;size&q;:400,&q;image&q;:&q;https://blogs-images.forbes.com/files/2017/06/Michael-Goldstein_avatar_1498486396-400x400.jpg&q;},{&q;size&q;:136,&q;image&q;:&q;https://blogs-images.forbes.com/files/2017/06/Michael-Goldstein_avatar_1498486396-136x136.jpg&q;},{&q;size&q;:62,&q;image&q;:&q;https://blogs-images.forbes.com/files/2017/06/Michael-Goldstein_avatar_1498486396-62x62.jpg&q;},{&q;size&q;:40,&q;image&q;:&q;https://blogs-images.forbes.com/files/2017/06/Michael-Goldstein_avatar_1498486396-40x40.jpg&q;}],&q;url&q;:&q;http://www.forbes.com/sites/michaelgoldstein/&q;,&q;type&q;:&q;Contributor&q;,&q;profileUrl&q;:&q;/sites/michaelgoldstein/&q;,&q;authorType&q;:&q;individual&q;,&q;email&q;:&q;MSGCommunications@gmail.com&q;,&q;tagName&q;:&q;I cover the travel biz: airlines, hotels, rental cars and destinations&q;,&q;blog&q;:false,&q;timestamp&q;:1504840015261,&q;blogName&q;:&q;Michael Goldstein&q;,&q;description&q;:&q;I&s;ve won several journalism awards, and my writing on travel has appeared in The Los Angeles Times, American Way, Southwest Airlines Spirit, Successful Meetings and United Hemispheres. 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Planes, pilots and other personnel are stuck in Houston or grounded elsewhere.&l;/p&g; \n&l;p&g;The national transportation system has been significantly affected, because, as &l;a href=\&q;https://www.forbes.com/sites/danielreed/2017/08/28/with-houstons-two-airports-under-water-travelers-nationwide-will-be-feeling-the-effects-of-harvey/#235b382e3180\&q; target=\&q;_self\&q;&g;Dan Reed pointed out&l;/a&g; this week, Houston hosts two major air transportation hubs. United’s hub at Bush Intercontinental Airport normally operates over 480 flights a day, carrying over 42,000 passengers. At Houston Hobby, Southwest operates 152 flights for about 20,000 people each day.&l;/p&g; \n&l;p&g; \n &l;fbs-ad position=\&q;inread\&q; progressive=\&q;\&q;&g;&l;/fbs-ad&g;&l;/p&g; \n&l;p&g;&l;span&g;(Full disclosure, I own stock in Southwest Airlines.)&l;/span&g;&l;/p&g; \n&l;p&g;The financial consequences of cancelling thousands of flights are significant. &a;nbsp;A&l;span&g;nalyst Helane Becker of Cowen and Company notes that&a;nbsp;&l;/span&g;United Continental (&l;a href=\&q;https://seekingalpha.com/symbol/UAL\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;UAL&l;/a&g;) will see a negative impact of $266 million due to Hurricane Harvey. She estimates that Southwest is in for a $77M loss. And even upstart Spirit (SAVE) will lose more than peanuts, with an $11M ding to the bottom line. &a;nbsp;(These assumptions are based on the airports reopening August 31.)&l;/p&g; \n&l;p&g;Still, quick thinking by Southwest managers cut some costs, and more importantly, accommodated hundreds of passengers. &a;nbsp;Ten Southwest 737s are still stuck at Hobby, but five planes escaped and &l;a href=\&q;http://www.cnn.com/2017/08/27/us/southwest-humanitarian-airlift-hobby-airport/index.html\&q; target=\&q;_blank\&q; rel=\&q;nofollow\&q;&g;managed to rescue 500 stranded passengers&l;/a&g;.&l;/p&g; \n&l;div class=\&q;vestpocket\&q; vest-pocket=\&q;\&q;&g;&l;/div&g; \n&l;p&g;The airline index on the NYSE, XAL, has recently taken a battering, but only some of this can be attributed to Harvey. &a;nbsp;XAL a&l;span&g;Tctually closed up on Tuesday, August 29, at 105.67 (+0.36%) but is down 5.91% over the last month, and 4.73% year to date.&a;nbsp;&l;/span&g;Other financial concerns for airlines include price pressure from falling ticket prices, (like the recent &l;a href=\&q;https://www.forbes.com/sites/michaelgoldstein/2017/08/28/europe-for-69-justay-wow/#3ef928073be7\&q; target=\&q;_self\&q;&g;WOW $69 sale&l;/a&g;), computer and system problems resulting in outages and cancellations, notorious bumpings and beatings, and higher labor costs. Terrorism, like the &l;a href=\&q;https://www.forbes.com/sites/michaelgoldstein/2017/08/25/i-let-my-son-fly-to-barcelona-after-the-terror-attacks/#36d85d9d5682\&q; target=\&q;_self\&q;&g;Barcelona attacks&l;/a&g; earlier this month, may also have discouraged some potential international travelers.&l;/p&g; \n&l;p&g;Individual airlines are also feeling the pain, both from the hurricane and a less-than-perfect-storm of market conditions. Southwest, (LUV) which hit its yearly high of 64.39 in July, closed at 51.46 (-0.56%) on August 29, which represents a 20% decline from its peak. But at least Southwest is still up 3.25% year to date.&a;nbsp;&l;span&g;Delta, which like Southwest hit its year&s;s peak of 55.75 in July, closed August 29 at 46.62 &a;nbsp;(-0.7%) and is down -5.22 YTD. American is down 4.56% YTD, and United closed at the end of trading on August 29 at 62.89 (-0.41%), part of a year-to-date decline of 13.71%.&l;/span&g;&l;/p&g;&q;,&q;&l;p&g;So while the hurricane will have a&a;nbsp;financial impact, it can hardly be assigned sole blame for the industry’s malaise. If there is good news for airlines affected by the disruptions of Hurricane Harvey, it’s that the flood waters will recede and schedules will slowly return to normal. Unfortunately, challenges like rising costs, lower ticket prices, technology malfunctions and terrorism cannot be resolved as simply.&l;/p&g; \n&l;div id=\&q;attachment_38292113\&q; class=\&q;wp-caption alignnone\&q;&g; \n &l;div class=\&q;article-body-image\&q;&g; \n  &l;img class=\&q;dam-image bloomberg size-large wp-image-38292113\&q; src=\&q;https://specials-images.forbesimg.com/imageserve/38292113/960x0.jpg?fit=scale\&q; data-height=\&q;1439\&q; data-width=\&q;960\&q; /&g; \n &l;/div&g; \n &l;div article-image-caption=\&q;\&q;&g; \n  &l;div class=\&q;caption-container\&q; ng-class=\&q;caption_state\&q;&g; \n   &l;fbs-accordion current=\&q;0\&q;&g; \n    &l;p class=\&q;wp-caption-text\&q;&g;A Southwest Airlines Co. Boeing 737 airplane taxis past one of the airline&s;s new gates at the William P. Hobby Airport in Houston, Texas, U.S., on Thursday, Oct. 8, 2015. Starting Oct. 15, Southwest will embark on a major expansion in flying abroad, with daily nonstop departures to six cities in Latin America and the Caribbean from a new concourse in Houston&s;s William P. Hobby Airport. A second international terminal will open in 2017 in Fort Lauderdale, Florida. Photographer: F. 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