United, Allegiant, AirTran, Delta the big movers in confused trading
United Airlines (-9.7%) reversed its previous day’s 6.0% rise, as investors reassessed the carrier’s results, while Delta (-4.8%) fell, despite the carrier reporting a smaller-than-last-year loss. Its combined (with Northwest) passenger revenue decreased 25%, or USD2 billion, on a 7% capacity reduction and PRASM declined 20%, driven by a 19% decline in yield. Ancillaries were up 15% (USD123 million), “primarily due to increased baggage fees.”
After losing 9.7% the day before, AirTran (+10.8%) bounced back on Wednesday, on a good 2Q2009 profit report, while Allegiant (-9.4%), despite also reporting a good profit, tumbled further, having lost 2.6% on Tuesday.
And JetBlue (+4.6%), regained with interest the 3.8% it lost on the previous day - despite not reporting until today.
North & South America selected airlines daily share price movements (% change): 22-Jul-09