<p>Shares of most airlines fell on Tuesday, with American Airlines Co. AAL, -2.84% capitalizing on the previous session’s big rally with a public offering of shares. The US Global Jets ETF JETS, -0.92%, fell 1.1% in morning trading, after climbing 16.1% on Monday to close at a 5-month high as investors applauded a potential COVID-19 vaccine. U.S. shares fell 2.6% as the company followed Monday’s 15.2% rise as it sought to sell 38.5 million shares to the public. Elsewhere, shares of Hawaiian Airlines, parent company, Hawaiian Holdings Inc. HA, -6.60%, slipped 5.7%. Deutsche Bank analyst Michael Linenberg downgraded Hawaiian to pull out of buy valuation, after Monday’s 50.8% rally on the idea that Hawaiian had the most to gain from a return to normal. Among other airlines, shares of United Airlines Holdings Inc. UAL, -0.79% were down 0.6%, Delta Air Lines Inc. DAL, -0.76% were down 1.1%, and Spirit Airlines Inc. SAVE, -1.50% was down 0.9%, while Southwest Airlines Co. LUV, + 1.45%, gained 0.6% and JetBlue Airways Corp. JBLU, + 1.13%, nailed 0.6%. Meanwhile, the S&P 500 SPX, -0.34%, eased 0.4% after rising 1.2% on Monday.