US Airways soars 21% on falling crude prices
US Airways Group Inc. (NYSE:LCC) is up more than 21% today as the price of crude oil continues to drop. The Tempe, Ariz.-based airline company posted a second-quarter loss on Tuesday as surging fuel prices cut into its margins. Today, however, crude oil is at $124.54 per barrel at 3:30 p.m. ET, down about $3.88. US Airways is at $5.18, up $0.91 from Tuesday’s close. Trading volume is at 25 million shares, more than double the average. The shares have ranged from $1.45 to $36.12 during the past year.
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