US Airways, UAL Corp climb higher as crude prices fall
Airline holding company US Airways Group Inc. (NYSE:LCC) is up more than 10% and United Airlines’ parent company UAL Corporation (Nasdaq:UAUA) is up more than 9% today because of further declines in crude prices. At 12:05 p.m. ET, crude was at $121.02 a barrel, down about $4.08 from its previous settlement. Record-high crude prices have driven up airline fuel costs, cutting into overall profit margins. As the price has continued to descend, airlines have once again soared. In today’s trading, US Airways is at $5.69, up $0.53 from Friday’s close while UAL is at $8.88, up $0.69.
For detailed price information and recent news stories about US Airways Group Inc., click LCC. For information about UAL Corporation, click UAUA.
