US airline sector shares slide as crude oil tops $US72 a barrel
Reports from the USA show a marked decline in airline stocks as crude prices oil raced up again this week to above $US72 a barrel.
The Amex Airline Index lost 3.1 % to 51.48 points, with all stocks in the benchmark gauge moving lower.
American Airlines parent AMR finished down 4.7% at $US24.38, with all other stocks in the group, including Continental Airlines and JetBlue losing more than 3%.
Frontier Airlines and Southwest Airlines declined least ending less than 1% each.
Outside the direct industry index, United Airlines UAL Corporation fell 5.5% to $US30.12 and U.S. Airways, US Airways Group Inc fell 3.2% to $US48.04.
Earlier, crude-oil futures climbed above $US72 a barrel for the first time in two weeks, as a result of last week’s closure of a key waterway in Louisiana feeding concerns over gasoline supplies ahead of the US holiday weekend.
Report by The Mole
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent
Strike action set to cause travel chaos at Brussels airports
All eyes on Qatar as Qatar Airways leads a season of global events