MW Snowstorm hits airline stocks as flight cancellations near 5,000

By Tomi Kilgore and Claudia Assis

Nearly all flights out of New York's Kennedy Airport and Boston's Logan International Airport are canceled

Airline stocks take a hit as a major Northeast snowstorm has led to thousands of flight cancellations.

Shares of air carriers lost in Monday trading, as a massive snowstorm forced thousands of flight cancellations and delays as well as ground stops at several airports in the Northeast U.S.

With predicted snowfall of more than 2 feet in some areas, 4,918 flights, or about 20% of flights scheduled to depart from the U.S. on Monday, were canceled as of late Monday, aviation analytics company Cirium said.

And cancellations were underway for Tuesday, with 1,576 flights, or 7% of all U.S.-departing flights, already scratched, Cirium said.

About a quarter of U.S.-bound international flights were canceled Monday, with Tuesday international cancellations already pushing past 140 inbound flights, Cirium said.

Nearly all flights out of New York's John F. Kennedy International Airport and Boston Logan International Airport were canceled Monday, and nearly 90% of flights leaving Newark Liberty in New Jersey and Philadelphia international airports were canceled. New York's LaGuardia Airport saw 96% of flights canceled.

"This is an exceedingly high cancellation rate for Northeast airports, consistent with an impactful winter storm. A typical day in the U.S. domestic market has 1% cancellations," Cirium said.

Among Northeast and mid-Atlantic states, 13 airports have been hit with ground stops, according to the Federal Aviation Administration.

Shares of American Airlines $(AAL)$ and United Airlines $(UAL)$ dropped around 5%, while shares of Delta Air Lines $(DAL)$ ended down nearly 4%. Southwest Airlines $(LUV)$ and JetBlue Airways $(JBLU)$ fell more than 2%.

A bomb cyclone moving along the East Coast is producing blizzards from Delaware through southern New England, AccuWeather said Monday.

Snow totals of 10 inches to 14 inches are expected from Philadelphia to New York City, with 12 inches to 18 inches likely in Boston. AccuWeather predicted a possible swath of 18 inches to 24 inches across a portion of the New Jersey Shore, Long Island and southeastern Massachusetts.

"Heavy, wet snow, damaging winds and coastal flooding are expected to significantly impact major population centers and transportation hubs along the Interstate 95 corridor," AccuWeather said.

While flight cancellations have hit airline stocks in the past, the selloffs usually don't last long.

During the last major snowstorm in late January, the U.S. Global Jets ETF JETS fell about 3% in three days as more than 20,000 flights were canceled. But over the next three days, the ETF was 1.3% above where it was before that selloff, and closed Friday 3.2% above the pre-selloff closing price.

Over the past 12 months, the Jets ETF has gained 16% while the S&P 500 index SPX has advanced 14%.

-Tomi Kilgore -Claudia Assis

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February 23, 2026 17:21 ET (22:21 GMT)

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