AirTran up 11% on lower crude, despite two downgrades
AirTran Holdings Inc. (NYSE:AAI) is up more than 11% today despite two downgrades. Analysts at Credit Suisse downgraded AirTran to “neutral” from “outperform” and Moody’s Investor Services downgraded the Orlando-based airline’s credit rating to a low junk status – to CAA2 from B3. During today’s trading shares of AirTran sunk more than 19% on the news, but near the close, shares have rebounded, up 11% from Monday’s close. The stock was lifted by falling crude prices.
At 3:25 p.m. ET, shares of AirTran are at $1.54, up $0.16 from the prior day’s close.
For detailed price information and recent news stories about AirTran Holdings Inc., click AAI.
