US Airways and ExpressJet soar, United, Alaska and Continental higher
North and South American airline stocks moved higher on Friday, led by US Airways (+8.4%) and ExpressJet (+8.2%).
ExpressJet reported a 29% year-on-year increase in May-2010 traffic, on a 24% capacity increase, resulting in a 2.9 ppts increase in load factor. ExpressJet ended May 2010 with a fleet of 244 aircraft consisting of 206 operating as Continental Express, 32 flying as United Express and 6 flying within Corporate Aviation (charter).
Merger partners, United Airlines and Continental gained 3.8% and 3.4%, respectively, as reports emerged that discussions have commenced with the airlines’ pilots to have a transitional arrangement in place by the end of 2010, ahead of the close of the merger.
See CAPA Country Profile on US Aviation.
North & South America selected airlines daily share price movements (% change): 11-Jun-2010