UBS Group has begun covering the american airlines industry, expecting that in 2025, revenue per available seat mile (RASM) will show stronger growth and profit margins will improve. UBS Group has assigned 'buy' ratings to alaska air group, united airlines, and delta air lines, anticipating attractive profit growth for all three companies, as high pre-tax profit margins and a healthy balance sheet will help mitigate risks from fluctuations in travel demand and potential cost inflation. Additionally, the firm has rated american airlines, allegiant travel, and Frontier Group as 'neutral'. The firm has also given 'sell' ratings to southwest airlines and jetblue airways. Due to weak margin performance, valuation premium, and execution risks associated with new services and revenue strategies, the firm has a cautious outlook on southwest airlines. Concerns regarding jetblue airways include uncertainty over whether the company can transition to a positive operating margin before 2025, cash burn issues, and high leverage on its balance sheet.