North American carriers’ stocks were mixed on Friday (28-Aug-09), while South American carriers’ stocks fell with the wider market. The Dow (-0.4%) ended the day down, after news US consumer sentiment was not as strong in Aug-2009 as it was in Jul-2009, resulting in a second consecutive monthly decline. Meanwhile oil prices (+0.3%) rose to USD72.74. Consequently, the AMEX Airline Index (-0.5%) fell.
Republic Airways (+10.8%) was the biggest gainer of the day, following Frontier Airlines’ announcement of a USD17.8 million net profit for Jul-2009, its ninth consecutive monthly profit. Frontier reported a consolidated operating profit of $24.9 million for the month of July 2009, compared to an operating income of $1.2 million for the same period in 2008, due to cost and capacity cuts.
JetBlue (+2.5%) was also up again, on the back of news it plans to file a request for regulatory approval to enter a codeshare agreement with European carrier, Lufthansa. Fellow LCCs WestJet (+1.2%), Allegiant (+1.1%) and Southwest (+0.7%) also rose.
Continental Airlines (+1.8%) was the only legacy carrier to end the day up Expressjet (+3.3%) stocks rose. while US Airways (-2.2%), Delta Air Lines (-2%), American Airlines (-1.1%) and United Airlines (-0.3%) stocks were all down at the end of trading.
COPA (-2.8%) led the fall of the South American carriers during the day, as GOL and TAM also fell on the back of a decline in the Bovespa (-0.1%). TAM took delivery of a new A319 on the day, the carrier’s 125th Airbus aircraft.
North & South America selected airlines daily share price movements (% change): 28-Aug-09
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.