Sector Snap: Airline shares fall

AP News
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Posted: Dec 15, 2009 4:45 PM

Airline shares fell Tuesday as the broader stock market slid and oil prices rose.

Benchmark crude for January delivery added $1.18 to settle at $70.69 a barrel on the New York Mercantile Exchange. In London, Brent crude for January delivery rose 16 cents to settle at $72.05 a barrel on the ICE Futures exchange.

On Wall Street, in late afternoon trading, the Dow Jones industrial average fell 40.96, or 0.4 percent, to 10,460.09. The S&P 500 index fell 4.64, or 0.4 percent, to 1,109.47, and the Nasdaq composite index fell 4.61, or 0.2 percent, to 2,207.49.

The Amex Airline index, meanwhile, fell 2.4 percent in afternoon trading.

Among airline stocks, Delta Air Lines Inc. fell 14 cents to close at $10.95, while shares of American Airlines parent AMR Corp. fell 4 cents to close at $7.59 and United Airlines parent UAL Corp. lost 47 cents, or 4.1 percent, to close at $11.05.

Shares of Continental Airlines Inc. gave up 60 cents, or 3.3 percent, to close at $17.61, while shares of US Airways Group Inc. slid 22 cents, or 4.6 percent, to close at $4.53.

Southwest Airlines Co. shares fell 16 cents to close at $10.75, while JetBlue Airways Corp. fell 11 cents to close at $5.70 and shares of AirTran Airways parent AirTran Holdings Inc. fell 18 cents, or 3.4 percent, to close at $5.219.