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Mon, Aug 14, 2006

Airline Stocks Fall On Terror Scare, Oil News

Perhaps due partly to Thursday's discovery of the terror plot in England... and partly because of rising oil prices... airline stocks are sliding again.

Shares in Continental open Monday about seven percent lower than they opened Thursday morning. Same goes for shares in the parent company of American Airlines.

Meanwhile, shares in UAL Corp were down five percent. US Airways was down more than eight percent.

It would be easy to blame the stock slips on the current state of jitters facing the security of air travel... but at least one industry analyst pins most of the blame on oil.

"Oil’s back up," Ray Neidl, an airline analyst with Calyon Securities, told the Associated Press. "I think the terror thing’s over. I think it’s more seasonal trends and concerns about the economy, the Middle East and oil prices."

Seems the more oil goes up... the more airline stocks go down.

FMI: www.united.com, www.continental.com, www.usairways.com, www.aa.com

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