This morning, all of the leading airline stocks are trading higher. This sector has been fairly strong since mid-March 2012. This is exact time when oil topped out after trading as high as $110.00 a barrel. As you all know, oil is the largest expense for an airline outside of labor costs. Today, light sweet crude is trading lower by 0.72 cents to $82.60 a barrel. ...
All of the leading airline stocks are catching a small bid higher despite the overall stock market weakness. The catalyst for the strong airline sector is obviously the weak oil prices. Light sweet crude has declined lower by more $20.00 a barrel since topping out on March 1, 2012 at $110.55 a barrel. Should oil start to catch a bid higher it would be prudent to expect the leading airline stocks to .... Continue reading here: http://bit.ly/L2zVe6
This afternoon, most of the leading airline stocks are catching a bid higher as the price of crude declines. The current chart pattern on many of the popular airline stocks still signals further declines despite today's bounce. Should oil begin to decline further over the next few weeks that could help the airline sector, however, that is unlikely with the current problems in the Middle East.
All of the major airline stocks have been coming under some heavy selling pressure since early February 2012. The catalyst for the decline in the airlines sector has been the sharp increase in oil. Crude has been soaring higher by more than $100.00 a barrel since early February and this happens to coincide with the decline in the airline stocks.
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US Airways Group, Inc. (NYSE:LCC) announced that it has reached a tentative agreement on a new collective bargaining agreement with the Association of Flight Attendants (AFA), which represents the airline's 6,700 mainline flight attendants. Details of the agreement will be made available by AFA.
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Daqo New Energy Corp. (NYSE:DQ) a leading polysilicon manufacturer based in China, announced the appointment of Mr. Bing Sun as Chief Financial Officer, effective February 1, 2012.
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US Airways Group, Inc (NYSE:LCC) is a holding company whose business activity is the operation of network air carrier through its wholly owned subsidiaries US Airways, Inc. (US Airways), Piedmont Airlines, Inc. (Piedmont), PSA Airlines, Inc. (PSA), Material Services Company, Inc. (MSC) and Airways Assurance Limited (AAL).