Market Overview

Airline Stocks Down Amid Fears Of Libyan Terrorists

Related DAL
The Week Ahead: The Year's Biggest Biotech Conference, Host Of IPO Quiet Period Expirations, And Other Coming Catalysts
Barron's Looks Ahead To 2018
The Only Good Three Ideas From Barron's (Seeking Alpha)

Airline stocks lost altitude Wednesday, lead by Delta Air Lines, Inc. (NYSE: DAL). The drop coincides with speculative reports that aircraft at the Tripoli airport could be used in terrorist attacks.

Delta Air Lines also reported that August revenue per passenger mile grew 3.01 percent, in line with its earlier forecast for a two percent to four percent gain for the third quarter.

The report, by Matthew Continetti's Washington Free Beacon, was picked up by Fox News, the Drudge Report and the Washington Times newspaper.

The report said the U.S. state department "can't confirm" an assertion by Free Beacon that 11 commercial jetliners had been stolen from the airport, which was captured last month by an Islamist faction fighting in Libya.

The story quoted an unnamed federal official,apparently not with the State Department, as saying "there are a number of commercial airliners in Libya that are missing."

Airlines went into a prolonged tailspin following terrorist attacks of 2001.

Wednesday's downturn appeared to wipe out most of earlier gains gains in the sector, which rallied Tuesday on falling oil prices.

Delta was off five percent, American Airlines (NASDAQ: AAL) dropped 3.6 percent and United Continental Holdings Inc (NYSE: UAL) was off three percent. Most others in the group were off by between one percent and two percent.

Posted-In: News Guidance Rumors


Related Articles (DAL + AAL)

View Comments and Join the Discussion!

Partner Center