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WASHINGTON, Nov. 7 (UPI) -- Stocks of U.S. airlines, that woebegone sector of the economy, have recently become positively virile.

The American Stock Exchange's airline index is up nearly 24 percent since Sept. 21, USA Today reported Monday.

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Cases in point: Newly reorganized US Airways has seen its stock price grow 49 percent since Sept. 27; Continental is up 41 percent since late September; and shares of American Airlines' parent are up 39 percent in the same time period.

JPMorgan analyst Jamie Baker says operating profit margins excluding fuel "are headed to historic highs."

And Gary Chase, analyst at Lehman Bros., says the bad old days for airlines are finished.

"The long-awaited capacity rationalization of the airline industry is finally beginning," triggered by jet fuel prices that hit $131 a barrel after the hurricanes. That, in turn, is allowing airlines to raise posted prices and to more tightly restrict the availability of lower-priced seats."

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