U.S. airline stocks extend losses on Milan crash

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CHICAGO, April 18 (Reuters) - Shares of major U.S. airlines, already weaker
on Thursday due to reported first-quarter losses, extended declines in
midday trading on reports that a small plane crashed into the Pirelli
skyscraper in the financial center of Milan, Italy.
"The stocks are all taking a hit because of it," said one New York airline
analyst. "There's been a fear all along ... how would they hold up if there
was another tragic event?"

The Sept. 11 attacks using hijacked commercial airliners sent prices of
major U.S. airline stocks down by half or more.

The recovery since then in domestic and international travel has been slow
and incomplete, causing record losses for the U.S. industry that have now
totaled more than $10 billion.

Shares of AMR Corp. (AMR) and UAL Corp. (UAL), the two largest U.S.
airlines, which each had two planes commandeered in the Sept. 11 attacks,
fell sharply along with the rest of the group. AMR, parent of American
Airlines, was down 4 percent to $22.66 and United Airlines parent UAL also
fell 4 percent to $14.80.


©2002 Reuters Limited.

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