Delta leads rise in US airline stocks on Tuesday, United Continental sees healthy PRASM gains

US airline shares continued to rally on Tuesday, led higher by Delta (+2.7%) and Allegiant (+2.6%), as oil prices fell again.

Oil prices fell 1% to USD86.57 per barrel in New York.

On Monday, United Continental reported consolidated passenger revenue per available seat mile (PRASM) increased by 10.5% to 11.5% in Jan-2011, while mainline PRASM increased an estimated 11.5% to 12.5%. Its shares gained 1.2% yesterday.

Selected American airlines daily share price movements (% change): 08-Feb-2011