The year has not been kind to airline stocks so far. Their performance relative to the broader indices is, quite simply, atrocious. Indeed, the industry’s malaise reminds one of the Warren Buffet witticism that prescient investors would have shot Orville and Wilbur down back in 1903. Of course, apart from standard Wall Street fear and greed, there are plenty of causes for concern. The salad days of constant oil price declines may be over. Both markets and currencies are in turmoil post-Brexit, while economic growth is sluggish and certain key indicators are sending recession signals. Capacity, security and leverage (read AAL) are perennial concerns. We will see if the summer travel season provides a chance for the industry to perk up and give its beleaguered investors a break.