Friday, 21 May 2010

Airline Stocks Decline For a Fifth Day

NEW YORK -- Airline stocks declined for a fifth day Friday as the wider market wrestled with weak economic data, debt worries and new financial regulation. The NYSE Arca Airline Index fell 1.3% to 33.75 points with all but four of its 13 components trading down. U.S.-listed shares of Gol Linhas shed 2.7% to $10.96, Tam Sa fell 3.5% to $13.14 and Ryanair Holdings lost about 1% to $22.99. Shares for the big U.S. network carriers moved sideways, with Delta , Continental and US Airways last up a fraction after being down a fraction earlier. Crude-oil futures fell under $70 a barrel on the New York Mercantile Exchange, while the Dow Jones Industrial Index fell about 52 points to 10,016.


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