Airline Winners & Losers: American Airlines

Unfazed by falling oil prices, most airline stocks dropped Monday as the broader market continued its downward spiral amid fears about the slowing economy.

Light, sweet crude for February delivery fell $2.87, to $37.96 a barrel on the New York Mercantile Exchange. The contract on Friday fell 87 cents to settle at $40.83.

The price of jet fuel is one of the biggest costs airlines have to deal with.

Wall Street extended last week's slide. In afternoon trading, the Dow Jones Industrial Average was down about 72 points to 8,527....