United Airlines, Continental, American and Southwest shares soar - SHARE WRAP
United Airlines, Continental Airlines, American Airlines and Southwest Airlines defied a 0.5% fall on the Dow Jones yesterday, by soaring 10.8%, 9.6%, 7.5% and 7.0%, respectively. March traffic data reports showed better than expected demand - even accounting for the early Easter last year falling in March.
US Airways, Delta and Allegiant also did well, rising 5.7%, 4.5% and 3.8%, respectively, reflecting a 2.8% fall in the price of oil to USD51.05 per barrel in New York.
United reported March traffic (RPMs) fell 13.6%, while Delta's fell 13.9%. Earlier, Continental reported an 8.8% fall and American posted a 12% drop in March RPMs.
Southwest Airlines' traffic was down only 0.4%, on a 1.5% reduction in capacity.
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North & South America selected airlines daily share price movements (% change): 06-Apr-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance