Airline Stocks Are Having A Hard Landing
All of the leading airline stocks are once again suffering due to the high energy prices. Earlier today, Southwest Airlines Co (NYSE:LUV) warned that the company would not report a profit for the coming quarter. The company said that they simply could not overcome the high cost of fuel despite recent price increases in fares. LUV stock has dropped sharply since early February 2012 when it traded as high as $10.05 a share. This morning, LUV stock is trading lower by 0.01 cent to $8.27 a share.
Most other leading airline stocks are trading basically flat today. United Continental Holding Corp (NYSE:UAL), Delta Air Lines Inc (NYSE:DAL), and U.S. Airways Group Inc (NYSE:LCC) are all holding steady today. These stocks all seem to have a little more downside in the cards on the daily charts. Traders must continue to follow the price of energy as this will adversely effect the airline sector.