23-Jul-2009 2:50 PM
United, Allegiant, AirTran, Delta the big movers in confused trading
Analysis
United Airlines (-9.7%) reversed its previous day's 6.0% rise, as investors reassessed the carrier's results, while Delta (-4.8%) fell, despite the carrier reporting a smaller-than-last-year loss. Its combined (with Northwest) passenger revenue decreased 25%, or USD2 billion, on a 7% capacity reduction and PRASM declined 20%, driven by a 19% decline in yield. Ancillaries were up 15% (USD123 million), "primarily due to increased baggage fees."
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