Sector Snap: Airlines Shares Mostly Up

NEW YORK (AP) — Shares of most major U.S. airlines fell modestly Monday afternoon, mimicking the slight losses in the broader market.

The Amex Airlines Index was off 0.2 percent.

The Dow Jones industrial average was down about 9.37 at 9,855.57, having crossing above the 9,900 threshold earlier, and other indexes were mixed as energy and materials stocks did well.

Any enthusiasm for airline stocks was dimmed, however, by another gain in oil prices, which could mean higher jet fuel prices down the road. Oil prices rose because the weakening U.S. dollar made dollar-denominated oil a relative bargain.

Benchmark crude for November delivery increased $1.58 to $73.35 a barrel on the New York Mercantile Exchange by Monday afternoon. Despite large supplies, crude prices have jumped 5 percent in three trading days.

In afternoon trading, shares of Delta Air Lines Inc. gained 2 cents to $8.69; American Airlines parent AMR Corp. fell 7 cents to $7.50; United parent UAL lost 11 cents to $7.09; and Continental Airlines Inc. fell 11 cents to $16.04.

Shares of US Airways Group Inc. declined 4 cents to $4.43; JetBlue Airways Corp. lost 4 cents to $5.63; and Alaska Air Group Inc. fell 37 cents to $27.37.

Southwest Airlines Co. fell 10 cents to $9.51; and AirTran Holdings lost 18 cents, or 3.5 percent, to $5.04.