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The run-up in red hot airline shares can't last, according to JPMorgan.
JPMorgan also lowered its revenue forecast for the major airlines for the second half.
The rally in airline shares has been the talk of Wall Street. The U.S. Global Jets ETF, which contains all the major players, is up more than 80% from its pandemic low and is up 50% in the last one month alone. United is up 75% in the last month, while JetBlue is up 56%.
Investors have been betting on consumers slowly returning to the skies and airlines adding flights to their summer schedules.