The airline sector was much stronger Wednesday as investors bet that US Airways' (LCC) $8 billion offer to buy bankrupt carrier Delta Air Lines (DALRQ) would mean takeover bids for others in the group.
The Amex Airline index, a measure that tracks regional, low-fare and legacy airlines, was higher by 4.7%. The big winner was
, whose shares jumped 18.7% to $13.14.
Neither US Airways nor Delta are part of the index, but both were on the rise. US Air was up 13% to $57.48, and Delta was ahead by 10.9% at $1.63.
was gaining 7.6% to $41.26, and
, the parent of United Airlines, was higher by 6.3% to $39.
, the owner of American Airlines, gained 4.4%,
was up 3.2%,
was climbing 6.9%, and
was advancing 5.1%.
Sitting out the rally were two regional carriers,
, down 4%, and
, off 7.8%.