New York, January 17, 2026, 07:46 EST — The market is closed.
Shares of American Airlines Group (AAL.O) slipped 2.2% on Friday, settling at $15.37. United Airlines (UAL.O) also declined 2.2%, with Delta Air Lines (DAL.N) down 1.2%. JetBlue Airways (JBLU.O) surged 8.2%, while Southwest Airlines (LUV.N) remained mostly flat.
U.S. stock markets remain closed Monday in observance of Martin Luther King Jr. Day, stretching the holiday weekend and delaying the next trading session until Tuesday. This pause often intensifies early-week volatility as investors adjust their portfolios and absorb news released during the shutdown. 1
For American, a pressing question is just how aggressively it must compete—and at what price—to reclaim premium business travelers at key hubs while costs remain volatile. Battling over gates and schedules could boost revenue, but if both airlines flood the market with seats, fares might take a hit.
In Chicago, American is fighting to regain ground at O’Hare, its third-largest hub. The airline rolled out what it calls its biggest spring schedule there, adding around 100 peak-day flights, pushing total daily departures past 500 — about 30% more than last year. It also extended seasonal routes to Paris and Dublin. United, meanwhile, plans nearly 650 daily flights this summer to roughly 200 destinations and claims a nearly 20-point lead in local passenger share. “This (rivalry) is like nothing else in U.S. aviation,” said DePaul University professor Joseph Schwieterman. After Chicago reshuffled gate assignments late last year, American paid $30 million to buy two gates from Spirit Airlines. Steve Johnson, American’s strategy chief, described the setback as “a temporary loss for us.” Consultant Robert Mann noted, “Travelers tend to benefit in contested hubs; dominated hubs extract premiums.” 2
Fuel prices added a layer to the long weekend’s market moves after oil closed stronger on Friday. Brent crude finished at $64.13 a barrel, while U.S. crude settled at $59.44. John Kilduff, partner at Again Capital, noted, “Buying today seems to be people not wanting to be caught short over the long weekend.” 3
On Friday, the FAA warned airlines to be cautious when flying over Mexico, Central America, and parts of South America due to potential military activity and GPS interference. The advisory is set to remain in effect for 60 days. This guidance complicates planning for carriers, affecting decisions on routes, crew assignments, and fuel loads in the region. 4
Chicago’s expansion comes at a price. Adding seats—known in the industry as “capacity”—can drive fares down if demand lags. Plus, limited gate access risks operational snarls, pushing up expenses from delays and cancellations.
When markets open Tuesday, eyes will be on crude to see if it can maintain its recent gains. Airline stocks will also be in focus, reacting to any fresh news on route disruptions and geopolitical tensions. Investors will be keen to see if American’s shares begin to reflect near-term factors like on-time performance and pricing rather than broader sector movements.
American will webcast its fourth-quarter and full-year results call on January 27 at 7:30 a.m. CT (8:30 a.m. ET). Investors are expected to zero in on the 2026 outlook, especially unit revenue, costs, and capacity plans. Attention will also be on how aggressively the airline plans to ramp up spring flights in Chicago. 5
