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Investor Ross Gerber of Gerber Kawasaki Wealth and Investment Management has raised concerns about the potential impact of the ongoing government shutdown on U.S. air travel, warning that the timing couldn't be worse as millions prepare for the busy Thanksgiving travel season. Air Traffic Controllers Will ‘Stop Getting Paid’ On Monday, in a post on X, Gerber said, “Thanksgiving travel season is just around the corner,” referring to one of the busiest times for air travel in the country, with nearly 80 million Americans having traveled during this period last year. Gerber said this while quoting a post by U.S. Secretary of Transportation Sean Duffy, who highlighted that air traffic controllers in the country will “stop getting paid” starting from Wednesday. “This is not ok,” he said, as the federal government shutdown enters its fourth week with no end in sight. See Also: Trump’s Approval Rating Firm as Shutdown Drags on and East Wing Demolition Sparks Debate Duffy adds that he’s already met several air traffic controllers at the Cleveland Hopkins International Airport, who, he said, “are worried about paying their mortgage.” He then called upon Senate Minority Leader Chuck Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.), saying, “You’ve got to do better.” Airline Stocks Unfazed By The Shutdown Even as the government’s shutdown continues to drag on, airline stocks remain unfazed, with little-to-no impact over this past month. However, American Airlines CEO Robert Isom said during the company’s recent earnings call that there were some “difficulties in terms of operating delays and issues with air traffic control.” Isom added that he remains in touch with Duffy, and was “hopeful that action will be taken to reopen the government as soon as possible.” While stock prices have remained unfazed so far, leading Wall Street analysts note that once this disruption lasts more than a month, the market will stop filtering the noise. Analyst Dennis DeBusschere of 22V Research warned earlier this month, “The longer the government shutdown lasts, the more it will add to volatility.” American Airlines shares were down 2.69% on Monday, closing at $13.41, and are up 0.07% overnight. The stock scores high on Momentum in Benzinga’s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click here for deeper insights on the stock, its peers and competitors. Photo Courtesy: Gorodenkoff on Shutterstock.com Read More:
