Sector Snap: Airlines down with broader market

AP News
Posted: Nov 27, 2009 11:13 AM

Airline shares fell with the broader market on Friday, even though airline investors got something that would usually count as good news _ falling oil prices.

The Amex airline index fell 1.9 percent, with all 13 of its components trading down.

Broader markets fell after Dubai asked for an extra six months to pay $60 billowed owed to its creditors.

Crude oil fell $3.23 to $74.73 on the New York Mercantile Exchange.

Delta Air Lines Inc. was down 18 cents, or 2.3 percent, to $7.71 in morning trading. American Airlines parent AMR Corp. was down 10 cents, and United Airlines parent UAL Corp. fell 22 cents, or 3 percent, to $7.11. Continental Airlines Inc. fell 19 cents to $13.26, and US Airways Group Inc. fell 6 cents to $3.47.

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Southwest Airlines Co. fell 21 cents, or 2.3 percent, to $8.89, and JetBlue Airways Corp. was down 12 cents, or 2.3 percent, to $5.30. AirTran Holdings Inc. fell 4 cents to $4.11.