US airlines gain on falling oil prices

US airline stocks went against the broader market trend on Monday, as falling oil prices provided investor support for the sector. Some analysts are pointing to fares rising ahead of oil prices, improving the earnings outlook for the sector.

US Airways and JetBlue led the way, gaining 5.6% and 5.5%, respectively. American was also sharply higher.

TAM closed 1.7% lower on the release of its first quarter financials.

Selected American airline daily share price movements (% change): 16-May-2011