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PassingThru

Member
Joined
Sep 17, 2002
Posts
12
Doesn't look good


At last check, US Airways (UAWGQ: news, chart, profile) was ahead 5.5 percent -- equivalent to 3 cents -- to reach 58 cents a share. The moves come after Alabama's public pension fund started what could be a bidding war for the airline. The Retirement Systems of Alabama bid $240 million for a 37.5 percent stake in the airline, adding to the $340 million in notes and certificates relating to aircraft financing that the fund already holds.

Last month, the Texas Pacific Group private-equity firm offered $200 million for the same stake in US Airways. That offer is contingent on the company emerging from bankruptcy.

United parent UAL (UAL: news, chart, profile) shares were higher by 2 cents to $2.53 after the employee union coalition said late Thursday that it needed more time to put together a plan that will cut operating costs and stave off bankruptcy. The group said that its failure to meet a self-imposed deadline this week should not be construed as disinterest in participating in recovery efforts.

Shares of AMR (AMR: news, chart, profile), parent of American, rose 5 cents, or 1 percent, to $4.95 after hitting a string of new lows earlier this week.

Delta (DAL: news, chart, profile) also moved off a fresh bottom to rise12 cents, or 1 percent, to $12.44.

Continental (CAL: news, chart, profile) was not as fortunate, decreasing 30 cents, or 4.4 percent, to another new 52-week low of $6.49.

Northwest (NWAC: news, chart, profile) slipped 5 cents to $7.82.

Against all this, the Amex Airline Index (XX:$XAL: news, chart, profile) slipped to 36.88.

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Ok, I'll bite.. What doesn't look good? Are you talking about the same news that's been around for months, or are you talking about the fact the these airlines are trying to turn things around?
 

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