Delta, United and US Airways drop back as Southwest moves in – Stock Wrap
Shares in Delta Air Lines, United Airlines and US Airways dropped back on Friday, by 5.5%, 2.5% and 0.8%, ahead of Southwest Airlines’ launch of services at New York LaGuardia Airport from Chicago Midway and Baltimore/Washington.
US Airways holds a 22.6% share of capacity at La Guardia, followed by Delta (20.5%) and American Airlines (19.4%), in what is a very fragmented market, which suits Southwest.
Elsewhere, JetBlue advanced 4.1%, while Allegiant (+5.0%) and Hawaiian (+9.1%) had particularly strong days. Republic Airways continues to bounce around following its acquisition of Frontier and Midwest, leaping 16% on Friday, following Thursday’s 10.8% drop.
North & South America selected airlines daily share price movements (% change): 26-Jun-09