JetBlue, AirTran and Southwest Airlines fall
US LCC stocks fell yesterday as oil prices rose 64 cents in New York to USD77.82 per barrel, as China introduces more flexibility to the yuan-US dollar exchange rate, spurring investor interest in commodities including oil.
Investors are also digesting the outcomes from last week’s Bank of America Global Transportation conference, covered extensively by CAPA, with the following reports on the leading North American LCCs:
- JetBlue reins in growth, yields improving
- AirTran takes advantage of legacy woes
- Southwest focusing on improving revenues and cutting costs in 2Q2010, but economic concerns persist
- WestJet pegs success on people and culture
In trading yesterday, JetBlue, AirTran and Southwest Airlines fell 4.2%, 3.0% and 0.5%, respectively, while WestJet gained 0.1%.
Selected LCCs daily share price movements (% change): 21-Jun-2010