Airline ETF hits turbulence, down 1%, as Delta issues more debt

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The US Global JETS ETF fell nearly 2% Thursday morning amid a broad stock-market sell-off as Delta Airlines Inc. , its biggest holding, said it was increasing the amount of debt it would issue, by $2.5 billion. Delta shares were down 0.9%, as were shares of United Airlines Holdings, Inc. . JETS’ second-biggest holding, shares of Southwest Airlines Co. , were down 1.9%. The exchange-traded fund, the only pure play for the domestic air industry, has had an up-and-down year. Shares sank by more than half in late February and into March as the world locked itself down to combat the coronavirus. Later, JETS found favor among individual investors looking to play the recovery, and attracted big inflows, but shares remain 41% lower in the year to date, and about 50% higher than the March bottom, just trailing the 52% gain for the broader S&P 500 .
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