Sector Snap: Airline Shares Fall

MINNEAPOLIS (AP) — Airline shares declined Monday along with the broader market, even as oil prices fell again.

The Amex airline index lost 3.4 percent, with all of its components lower. Crude for July delivery dropped nearly 3 percent, or $2.06, to $69.98 a barrel.

The Dow Jones Industrial Average was down about 200 points at midday, more than 2 percent.

Several deals were announced at the Paris Air Show on Monday, though none of the big ones involved U.S. airlines — another sign that there's little confidence that they'll get out from under the impact of the recession anytime soon.

Shares of Delta Air Lines Inc. fell 27 cents, or 4.2 percent, to $6.13. American Airlines parent AMR Corp. fell 11 cents, or 2.4 percent, to $4.44, and United Airlines parent UAL Corp. fell 16 cents, or 4.2 percent, to $3.67.

Continental Airlines Inc. shares fell 16 cents to $8.93. US Airways Group Inc. shares fell 11 cents, or 4.1 percent, to $2.60.

Southwest Airlines Co. shares fell 17 cents, or 2.6 percent, to $6.44, while JetBlue Airways Corp. fell 15 cents, or 3.6 percent, to $4.05, and AirTran Airways parent AirTran Holdings Inc. fell 10 cents to $5.30.

Alaska Air Group shares fell 13 cents to $16.25. Its units Alaska Airlines and Horizon Air announced a 25-percent-off sale to eight Mexico beach destinations. Travel to Mexico has dropped off sharply on worries about swine flu and crime.