Airline stocks rally on falling energy prices
Benchmark oil prices show biggest daily loss in four months
flyaktier er ikke uinteressante fordi det stadig boomer i det meste af verden
så er der også et bom i efterspørgslen efter at flyve og flyselskaberne kan bare sætte biletpriserne op
det gældet bl.a. de kinesiske flyselskaber, der er faldet meget, og også SAS, men spørgsmålet er hvordan med de amerikanske flyselskaber, der jo også kæmper med en recession i usa, der gør det meget mere vanskeligere at sætte billetpriserne op når antallet af passagerer falder elelr stagnerer
A steep drop in oil prices and the prospect of relief from punishing fuel costs gave a huge boost to airline stocks Tuesday.
The Amex Airline Index (XAL:amex airline index xal
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Last: 15.98+1.61+11.20%
5:17pm 07/08/2008
XAL 15.98, +1.61, +11.2%) surged 11% to close at 15.98 points, with all 14 of its component stocks trading higher. The index has rebounded 10% from the all-time low of 14.06 hit last week.
As fuel prices have come to dominate carrier operating costs, stocks have been trading relative to oil prices and their perceived risk. Last week, crude prices surged to a record high of $148.85 a barrel.
For Tuesday, crude oil for August delivery fell $5.33 to $136.04 a barrel on the New York Mercantile Exchange and its biggest daily loss since March 19. Crude has tumbled $9.25 over the past two sessions. See Future Movers.
Northwest Airls Corp
Percent Change:31.05%
Volume:14,755,938
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Among network carriers, shares of Northwest Airlines (NWA:northwest airls corp com
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Last: 7.47+1.77+31.05%
4:01pm 07/08/2008
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NWA 7.47, +1.77, +31.1%) led percentage gainers, up a whopping 31% to close at $7.47. Delta Air Lines (DAL:delta air lines inc del com new
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Last: 5.84+0.96+19.67%
4:01pm 07/08/2008
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DAL 5.84, +0.96, +19.7%) rose 20% to $5.84, Continental (CAL:Continental Airlines Inc
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Last: 10.24+1.38+15.58%
4:02pm 07/08/2008
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CAL 10.24, +1.38, +15.6%) jumped nearly 16% to $10.24 and United parent UAL Corp. (UAUA:ual corp com new
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Last: 4.75+0.56+13.37%
UAUA 4.75, +0.56, +13.4%) climbed 13% to end at $4.75.
Video: Airlines React to Higher Fuel Prices
Airlines are beginning to provide greater details on their plans to cut flights and jobs in order to offset higher jet fuel prices. But some analysts say what airlines really need to do is raise revenue.Responding to record-high jet fuel prices, airlines have said they would mothball older planes and cut jobs beginning this fall when the peak summer-travel season comes to an end.
But late Monday, United Airlines said it would dismiss about 150 employees from Denver International Airport beginning this week.
In a June 17 letter to the state of Colorado, United said it would dismiss 50 customer service representatives and 100 workers classified as "ramp servicemen." The Chicago-based carrier is expected to remove about 12% of its weekly domestic capacity from Denver in the fourth quarter compared to a year ago, according to data from Credit Suisse.
Meanwhile, rival Frontier Airlines (FRNTQ:frontier airlines holdings i com
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Last: 0.25-0.02-7.41%
3:59pm 07/08/2008
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FRNTQ 0.25, -0.02, -7.4%) said it would layoff 456 Denver employees beginning Sept. 1. See full story.
United is the No. 1 carrier at Denver's airport while Frontier is No. 2.
Discount airline AirTran Airways said it will cut 480 jobs, or more than 5% of its workforce, as it reduces its number of flights because of high fuel prices, according to various media reports.
AirTran, a unit of Orlando, Fla.-based AirTran Holdings (AAI:airtran hldgs inc com
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Last: 2.19+0.31+16.49%
4:03pm 07/08/2008
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AAI 2.19, +0.31, +16.5%) , said that 180 pilots and 300 flight attendants will be affected by the cuts, which are expected to take effect by early September.
Delta Air Lines said it would leave Lansing, Mich., dismissing 26 jobs and three flights to Cincinnati, the Associated Press reported.
