Sector Snap: Airline shares mostly fall

AP News
Posted: Dec 17, 2009 4:09 PM

Shares of most major U.S. carriers fell Thursday as oil prices edged down slightly and the broader stock market fell sharply.

Benchmark crude for January delivery dropped a penny to settle at $72.65 a barrel. In London, Brent crude for February delivery fell 92 cents to settle at $73.37 on the ICE Futures exchange.

On Wall Street, in late afternoon trading, the Dow fell 111.17, or 1.1 percent, to 10,329.95. The broader Standard & Poor's 500 index fell 11.12, or 1 percent, to 1,098.06, and the Nasdaq composite index fell 23.33, or 1.1 percent, to 2,183.58.

The Amex Airline index, meanwhile, fell 2.2 percent in afternoon trading.

Among airline stocks, Delta Air Lines Inc. fell 7 cents to $11.58, while shares of American Airlines parent AMR Corp. lost 23 cents, or 2.9 percent, to $7.63 and United Airlines parent UAL Corp. fell 8 cents to $11.18.

Shares of Continental Airlines Inc. fell 2 cents to $17.65, while shares of US Airways Group Inc. lost 15 cents, or 3.1 percent, to $4.63.

Southwest Airlines Co. shares rose 8 cents to $11.28, while JetBlue Airways Corp. lost 14 cents, or 2.5 percent, to $5.58, and AirTran Airways parent AirTran Holdings Inc. fell 11 cents, or 2.1 percent, to $5.16.