AirTran and Westjet fly. Market Obamatised with hopes for massive government expenditures
The market was Obamatised yesterday, as the President-elect talked of massive expenditures to kick start the economy - and the possibility of starting by working immediately with the Bush Administration.
The Dow Jones Index was up 3.46%, but several airlines outstripped this, with AirTran (+8.2%) the best performer across a solid board. AirTran, the US industry's lowest cost operator is rapidly becoming a market favourite.
And, with warm holidays on their minds, Canadian investors pushed Westjet shares up 7.5%, following the carrier's announcement of a partnership with Mokulele Airlines of Hawaii, allowing Westjet to distribute passengers between the islands, once they arrive off its 23 times weekly Canadian services. The carrier is doing well. Last week it announce a record load factor of 76.1% for November.
North America selected airlines daily share price movements (% change): 08-Dec-08