US airline stocks mixed on Bernanke’s ‘formidable headwinds', Brazilian stocks jump
US carriers’ stocks were mixed on Monday, as Federal Reserve Chairman, Ben Bernanke, warned, “we still have some way to go before we can be assured that the recovery will be self sustaining”. He added he hoped the rebound will stretch into 2010, but noted the US economy still faces “formidable headwinds”.
Continental’s shares dropped 5% yesterday, while AirTran and Republic eased 1.7%. On the other side of the ledger, US Airways surged 5%, while Delta and Hawaiian added 2.2% and 2%, respectively.
Brazilian airlines rally
Stocks in Brazil rose yesterday as Gol reported higher load factors, sparking a jump in airline stocks. Gol rose 3.3% (in New York) to its highest close since May-2008, while Tam rose 4.2%. See separate report: GOL sees yield improvements in Nov-2009
North & South America selected airlines daily share price movements (% change): 07-Dec-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance