As peak summer travel is underway, one sector in focus is the airline industry. United Airlines (UAL) revealed mixed second quarter earnings results after Wednesday's market close, the airline operator ultimately disappointing on its third quarter earnings guidance. UAL stock is up nearly 6% in the last five trading days and has seen over 17% in year-to-date gains.

Alaska Air Group's (ALK) stock is falling Thursday morning following its second quarter earnings, disclosing full-year profit forecasts also below expectations.

TD Cowen vice president of equity research Tom Fitzgerald joins Morning Brief to give insight into the airline industry and why select airlines seem to be having more success over others this summer.

Fitzgerald points out why the "no frills" airlines are having a tough time, which may lead to them raising their prices and creating opportunities for larger operators like United.

"The game changed a lot. I mean United has talked about this a great deal. We've written about it a lot, but the cost convergence is just the low cost carriers, the ultra low cost carriers, they're just at such a disadvantaged point from competitive wise, and... think people coming out of the pandemic are much more willing to pay for a more pleasant onboard experience, to pay for a more reliable product, to earn loyalty or to earn miles in an airline where they can redeem to go to Europe or something versus just another low cost, leisure, no-frills carrier."

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This post was written by Nicholas Jacobino