Airlines Stocks Fell As Oil Prices Hit 18-Month High
April 7, 2010 | Airline Flight, Airlines Companies, Airlines News, Aviation
Airline stocks fell Monday as oil prices hit an 18-month high, raising fears about higher prices for jet fuel just as the carriers try to return to profitability.
The Amex airlines index fell 1.3 percent, with 10 of its 13 component stocks lower in midday trading.
Airline stocks suffered despite upbeat reports on March traffic from two smaller carriers, AirTran and Allegiant, and a rally in the broader stock market. The Dow Jones industrial average was up 50 points by midday.
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Southwest Airlines And United Airlines Led The Airlines Stock
March 20, 2010 | Airlines Companies, Airlines News, Southwest Airlines, United Airlines
Airline stocks edged higher early Thursday, led by gains from Southwest Airlines and United Airlines.
United UAUA shares climbed 2%. Southwest LUV and American AMR and US Airways LCC rose 1%.
Tracking the sector, the NYSE Arca Airline Index rose 0.5% to 37.86 points, with nine of the benchmark index’s 13 components advancing. The index is up more than 12% so far this year.
In the energy market, oil futures fell 31 cents to $82.62 a barrel on the New York Mercantile Exchange.
In other developments, Virgin America, launched in 2007, is expanding its flight pattern. Virgin said it plans to launch non-stop flights from San Francisco and Los Angeles to Orlando and Toronto.
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