Airline stocks fall with oil price hikes
Airline stocks dropped Monday as oil prices went back on the incline.
Light, sweet crude for delivery in October went up $2.33 to $106.88 per barrel in Monday morning trading on the New York Mercantile Exchange, according to an Associated Press report.
Fort Worth, Texas-based passenger carrier American Airlines Inc., a subsidiary of AMR Corp. (NYSE: AMR), saw its stock plummet 9.6 percent Monday morning from a Friday close of $12.94 per share to a stock price of $11.70 per share Monday morning.
Meanwhile, Dallas-based Southwest Airlines Co. (NYSE: LUV) saw its stock price fall 4.4 percent from $15.38 at close on Friday to $14.70 per share on Monday no fax payday advance. And Tempe, Ariz.-based US Airways Group Inc. (NYSE: LCC) was off 57 cents, or 7.2 percent, from its Friday close, to $7.34.
All three airlines are among the major carriers at Pittsburgh International Airport.
Filed under: marketing by Guru