led airline shares down Monday, falling 3.6%, possibly in reaction to its lack of fuel price hedges.
AMEX Airlines Index
was down about 1%. Among legacy carriers,
slipped 0.56% and
was off 2.3%.
Stifel Nicolaus analyst Hunter Keay noted that US Airways, unlike its peers, has followed a policy of not hedging fuel costs. "It's tempting to attribute
the decline in the stock to oil due to their lack of hedges," Keay said. "With crude up today and US Airways' underperformance relative to the group, it's a logical conclusion."
Despite falling back on Monday, US Airways shares are up 133% for the year, leading the airline industry. United is second at 117%.
-- Written by Ted Reed in Charlotte, N.C.
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