Sector Snap: Airline shares nosedive
Posted: 2008-11-12 11:46:00
NEW YORK (AP) _ Shares of the major airlines dropped with the rest of the market Wednesday morning, after Treasury Secretary Paulson said the government won't buy troubled mortgage assets from banks.
Paulson said the government will instead buy stakes in banks and encourage more lending to ease the financial crisis.
Ever-lower oil prices had no apparent effect on airline shares, although fuel is a major cost burden on carriers. A barrel of crude lost $2.56 at $56.77 on the New York Mercantile Exchange.
The AMEX Airline Index dropped 11.5 percent with all 13 component stocks down.
UAL Corp., parent of United Airlines, fell $3.04, or 23.7 percent, to $9.79. AMR Corp., parent of American Airlines, gave up $1.41, or 16.9 percent, at $6.95. Continental Airlines lost $2.33, or 16.9 percent, at $11.44. Delta Air Lines dropped $1.66, or 18.8 percent, to $7.18.
U.S. Airways fell $1.67, or 22.2 percent, to $5.87. Southwest Airlines gave up $1.16, or 10.7 percent, at $9.70. JetBlue lost 48 cents, or 8.7 percent, at $5.01.
Evaporate.....as would your market share, and eventually maybe your job, if McCain and his Cabotage views took hold.
Freedoms? How does rendition of US citizens, domestic spying on US citizens, and placement on watch lists of law-abiding citizens enhance your freedoms?
What has Obama said to indicate he wants to take your freedoms?
If you mean our freedoms may be lost to overzealous vice-presidential action, maybe. If you mean we may lose freedom to al-qaeda, well, maybe al-qaeda would not be viable now if our efforts were focused on them, not on avenging daddy and selling the country to oil interest in Iraq.
Competence speaks for itself, and have not seen it from the republicans this time.....
Now that the stock went back up to 11 ish are they ok again? Funny that since they are getting ready to fold they announce Geneva, and start service to Dubai from Washington.....and they are in the final stages of Anti-trust approval for the star alliance combo with CAL...and others...does not seem to be a folding company when you look at the facts instead of your uneducated opinion.
The rise and fall of the markets is because of the markets... take your opinion somewhere else. It is back up now...what is the reason for that?..oh wise one.