Airline Winners & Losers

NEW YORK -- Shares of most U.S. airlines fell Thursday amid a big selloff in the broader market, despite a decline in oil prices.

The Amex airline index fell 5.1%, with nine of its 13 airline stocks in the index sliding.

The decline might have been worse if oil prices hadn't fallen to their lowest levels in more than three years. Airline shares often trade inversely to oil because jet fuel is a leading expense for carriers.

Light, sweet crude for December delivery fell nearly 8%, or $4.07, to $49.55 in afternoon trading on the New York Mercantile Exchange. ...