AIRLINE SHARES SLIDE CONTINUES

Dino D'Amore
By Dino D'Amore February 24, 2011 11:34

AIRLINE SHARES SLIDE CONTINUES

Airline stocks have continued their slide downwards since civil unrest erupted in the Middle East and have retreated back to October levels. The drop was forced yesterday on the news Libya has halted fuel exports.

The NYSE Arca Airline Index fell 2.3% to 42.81 points. Oil futures rose more than 2% to $97.41 a barrel.

Shares of United Continental Holdings declined 8% to $22.50, US Airways fell 6% to $8.62 and American parent AMR Corp lost 6% to $6.60. JetBlue Airways dipped 2% to $5.66 and Southwest Airlines also fell slightly by 1% to $11.76. However, SkyWest shares were up nearly 7% to $16.31 thanks to a higher than expected fourth-quarter profit.

Dino D'Amore
By Dino D'Amore February 24, 2011 11:34
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