United Airlines, Delta, Continental and GOL the big gainers as American stocks rise on tide
Majors, United Airlines (+7.1%), Delta (+7.1%) and Continental (+6.8%) stocks led the way up for US airlines on Wall Street and GOL rose +5.8% in Brazil. GOL continued to rise following its solid 1Q09 report and as the overall market strengthened.
Delta has been making positive noises recently about a bottoming of the market – a dubious prospect, given the data, but one which is gaining some currency.
US airline stock prices fluctuate more widely than Europeans when the stock indexes move and most of yesterday’s moves reflected the generally positive noises on Wall Street.
American Airlines (+3.9%) should be buoyed to some extent by the groundswell of support from European and US airports and others for the proposed alliance with British Airways.
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North & South America selected airlines daily share price movements (% change): 18-May-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance