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JETS ETF Rallies After-Hours On Hopes Of Consolidation Among US Airlines
The US Global Jets ETF (JETS) rallied after-hours following reports that U.S. transportation secretary Sean Duffy expressed openness to consolidation in the airline industry. Duffy, however, noted that any potential merger would face scrutiny regarding its impact on ticket prices and competition, and major airlines involved might need to divest assets. The comments come amidst JetBlue’s consideration of selling itself to a rival and rising jet fuel prices.