Deutsche Bank has downgraded shares of Frontier Group Holdings (NASDAQ: ULCC) and JetBlue Airways (NASDAQ: JBLU) from “Buy” to “Hold” as indications of a slowdown in domestic air travel intensify. The bank’s analysts note that consumer spending on low-fare flights is weakening.

In light of this emerging economic soft patch, the bank has revised its outlook for domestic revenue and subsequently lowered price targets: $8 for Frontier and $7 for JetBlue.

Despite the struggles facing low-fare carriers, full-service airlines such as American and Delta remain in a stronger position, highlighting the importance of monitoring market shifts closely.

As conditions evolve, stakeholders should keep an eye on changes in consumer behavior and the broader economic landscape.