After strong share gains earlier in the week, most US airline stocks dropped back in trading on Wednesday. Falling the furthest was US Airways, down 3.8%. The carrier announced plans to distribute USD47 million to its employees through its profit sharing scheme, after reporting a net profit of USD502 million in 2010.
Other US airline stocks that fell sharply were Southwest Airlines, which shed 2.8%, and American Airlines, down 2%.
US ATA Vice President and Chief Economist John Heimlich issued a warning that if jet fuel prices stay where they were in early Mar-2011, the fuel bill for US airlines could increased from USD39 billion in 2010 to USD54 billion this year.
Selected AAD daily share price movements (% change): 10-Mar-2011
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