Airline Stocks Fall as Oil Rises -- With Two Exceptions
With the price of oil taking off today, most airline stocks went in the opposite direction.
With two big exceptions.
On the back of the news that Midwest Airlines will begin "discussions" with AirTran, as well as other "strategic and financial parties" that have expressed interest in a deal with Midwest -- shares of Midwest were trading up almost 13% as we posted this update, to 14.18.
Across the pond, Ryanair also saw shares up sharply today, as ADRs of the airline were trading up almost 14%, sitting at around $41.75 last time I checked.
The reason? The airline reported earnings up 20% from last year's fiscal first quarter.
Tickers: AMEX:MEH, Nasdaq:RYAAY
Technorati Tags: airline earnings, airline stocks, Midwest Airlines, airlines, Ryanair