Delta, Continental, American Airlines, Southwest fall as oil tops USD60 per barrel – Stock Wrap
Stocks in Delta Air Lines, Continental Airlines, American Airlines and Southwest Airlines were all hit to varying degrees by the increase in oil prices above USD60 per barrel yesterday. The carriers’ stocks closed down 2.7%, 2%, 0.6% and 0.6%, respectively.
United Airlines swam against the tide, rising 0.8%, while FedEx was also higher (+1.1%).
Allegiant slumped 6.9% on the oil price milestone. One of its fuel-hungry veteran aircraft was also involved in an emergency landing in Las Vegas after the crew reported smoke in the cockpit.
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North & South America selected airlines daily share price movements (% change): 19-May-09
Source: Centre for Asia Pacfic Aviation & Yahoo! Finance