JetBlue, AirTran and Southwest lead US airline stock rally
US airline stocks rallied on Friday as US stocks surged. The Dow Jones Industrial Average jumped 197.84 points (1.86%) to 10,860, while the S&P 500 index rose 23.84 points (2.12%) to 1,148.67.
The falling oil price helped LCC stocks in particular. Benchmark crude for October delivery was lower closing the trading session at USD73.46 per barrel in New York, down USD0.97 from the previous close.
JetBlue surged 5%, helped by a Barron’s report citing favourable analysts’ comments on the stock. According to the Barron’s report, Deutsche Bank has a USD8 price target, while Bank of America/Merrill Lynch has a target of USD12. The stock closed at USD5.94 on Friday.
North & South America selected airlines daily share price movements (% change): 24-Sep-2010