Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Most airlines that cancelled flights ahead of the storm have since restarted operations, including United Continental (NYSE: UAL ) , Delta (NYSE: DAL ) , and AMR Corp.’s (NYSE: AMR ) American Airlines. Others commenting on the storm to Bloomberg compared Irene’s disruptive power to that of a winter blizzard.
Now what: Airlines cancelled more than 11,200 flights, a relative pittance when compared to the more than 20,000 trips cancelled during a Chicago-area blizzard that hit the week of Feb. 4. Add it up and you’ve got relieved travel investors buying back in at less than a third of Travelzoo’s 52-week high. Don’t be surprised if they’re richly rewarded. Do you agree? Would you buy at these levels? Weigh in using the comments box below.
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