It Has to Get Better...Doesn't It?
One of our PlaneBusiness Banter subscribers wrote this afternoon,
"AMR types had a milestone moment today (not the good type either) the stock options issued in 03 are now officially underwater! ($5 strike price).
P.S. maybe can I write the loss off on my taxes ;-)"
That's one way to look at it.
Yep. Another bad day in the airline sector today as oil closed up almost a buck, ending the day at $140.97. This was after it shot up as high as $143 and change earlier in the day.
Once again, the airline sector took a hit today. Not as bad as some of the days we've seen of late, but of all the airline stocks we track, only two posted small gains on the day -- Ryanair which saw ADRs up 2%, closing at 29.10, and Hawaiian Airlines, which saw shares up 1%, closing at 7 bucks even.
Just a sampling of the losses posted for the day.
AMR, parent of American Airlines: down 5% to 4.85.
Alaska down 4% to 14.70
Allegiant, down 7% to 17.33
Delta down 3% to 5.53
Continental down 1% to 9.96
US Airways down 4% to 2.41
Northwest down 2% to 6.52
Southwest was essentially flat on the day, closing at 12.99
ExpressJet down another 5% to 52 cents/share
United Airlines down a whopping 12% -- ending the day at 4.60.
Technorati Tags: airline stocks, airlines, Alaska Airlines, Allegiant Airlines, Continental Airlines, Delta Air Lines, ExpressJet, Northwest Airlines, oil prices, Southwest Airlines, United Airlines