HINDSIGHT
Slip in Oil Creates Updraft for Airlines
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Own oil stocks lately? Not good. Own airlines? Good. The misfortune of the one has been a blessing for the other. Since oil prices peaked on July 3 and started to head down, airline stocks have taken off, lifted by the promise of lower fuel prices. Of the 21 publicly traded airlines, shares of all but two rose from July 3 to Sept. 2. The major carriers had sharp gains: US Airways, up 268 percent; UAL, parent of United Airlines, up 222 percent; AMR, parent of American Airlines, up 138 percent; Continental Airlines, up 97 percent.
