U.S. airline stocks rise sharply

[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

 



U.S. airline stocks rise sharply  =

 =

 =

  =


Tuesday September 2, 3:45 PM EDT =


CHICAGO, Sept 2 (Reuters) - Shares of major U.S. airlines rallied on Tues=
day, with Northwest Airlines Corp. (NWAC) and Delta Air Lines Inc. (DAL) =
both jumping more than 10 percent, on a combination of factors including =
improving revenue.

Delta shares rose $1.41 or 11 percent to $14.28 and Northwest rose 96 cen=
ts or 10.5 percent to $9.96.

Also rising were Texas-based carriers Continental Airlines Inc. (CAL), up=
 more than 7 percent, and American Airlines parent AMR Corp. (AMR), surgi=
ng more than 5 percent.

"Lower oil prices, imminent August revenue guidance and the prospect for =
smaller than anticipated losses this quarter appear to be fueling the mar=
ket's appetite for airline equity," said J.P. Morgan Securities analyst J=
amie Baker.

Major U.S. airlines are still amassing big financial losses but unit reve=
nue, which measures how much money is taken in per available seat mile, h=
as been improving for the last three months.

The American Stock Exchange's airline index (XAL) was 5 percent higher at=
 59.27 shortly before the market closed. =



=A92003 Reuters Limited. =


Roger
EWROPS

[Index of Archives]         [NTSB]     [NASA KSC]     [Yosemite]     [Steve's Art]     [Deep Creek Hot Springs]     [NTSB]     [STB]     [Share Photos]     [Yosemite Campsites]