It was a turbulent and ultimately terrible first quarter for airline stocks. The second quarter may not be much better for the industry.

Airline stocks slumped Tuesday after Jefferies analysts lowered their ratings for three of the four major U.S. carriers, writing “consumer sentiment continues to disappoint.”

Major airline stocks were in focus on Tuesday morning after Jefferies downgraded four prominent names, citing softer consumer sentiment this summer. According to TheFly, Jefferies analyst Sheila Kahyaoglu downgraded Southwest Airlines Co.