Air Canada and WestJet shares advance
Canadian carriers Air Canada and WestJet led a day of mixed fortunes for America's airlines stocks. Air Canada B shares gained 2.1% and WestJet stock was up 2.1%. Latin American carriers were also among the best performing stocks, with LAN Airlines, TAM, GOL and Copa Airlines all reporting gains.
US carriers had an uneven day. United Continental shares were up 1.7%, but most other stocks saw either modest gains - in the case of UPS, Southwest, American and Allegiant - or share price falls. Altas Air, Republic Airway, US Airways, Hawaiian Airlines and JetBlue recorded the largest declines.
Southwest Airlines is expected to report slim 1Q2011 profit earnings, due to the effects of rising fuel costs and the fallout from the fuselage rupture on a B737-300 and related aircraft groundings. CEO Gary Kelly has stated that rising energy prices could increase the company’s costs by USD1 billion. Southwest stock rose 0.2% on Tuesday.
Selected Americas airline share price movements (% change): 19-Apr-2011