Airlines Suffer Through Tough Quarter, Struggle to Meet Estimates

The airline industry has had a rough earnings season and an overall tough quarter, as the carriers generally reported disappointing numbers following profit warnings earlier in the period.

Most of the airlines escaped the ire of investors on Wednesday and cruised higher by the close of trading. Early in today's session, investors quickly dragged the carriers into negative territory before the sector rebounded by midday.

One of the few bright spots came on Thursday as Southwest Airlines(LUV Quote) met Wall Street's slightly lowered earnings estimate for the first quarter. Southwest basically weathered the storm and was one of the only major airlines to avoid a major profit warning in the quarter. ...