Airlines, Cruises, Casinos: Are Things Actually Looking Up?

A look at travel-sector results shows airlines, cruises, and casinos moving in different directions after the peak season. Las Vegas Sands (NYSE:LVS) shares are down 31.6% year to date, while Royal Caribbean Cruises (NYSE:RCL) has slipped 4.8%. Delta Air Lines (NYSE:DAL) is up 12.6%, highlighting a split across airlines. Bank of America described Delta and United as being in a “rare airline sweet spot,” supported by pricing power even as higher fuel costs pressure margins. Delta’s Q2 2026 adjusted EPS was $1.56 and revenue $17.67 billion; fuel expense hit a quarterly record of $4.41 billion. Royal Caribbean reported Q2 2026 adjusted EPS of $4.21 and raised its full-year EPS guidance, though adjusted EBITDA margin fell.