So far, U.S. airlines have coped well with a painful economic downturn, but a sharp decline in gasoline prices soon may lure travelers off planes and into cars for short-haul trips.

By Kyle Peterson

Federal regulators have asked Continental Airlines Inc. and its prospective partners for more information about their request to add Continental to an alliance that already enjoys immunity from antitrust laws.

As the Dow Jones Industrial Average took a wild 680-point plunge Thursday afternoon, some major airline stocks held steady, while others even climbed.

Airline shares and oil prices used to move together like kids on a teeter-totter, with one rising while the other falls. But the financial crisis affecting the U.S. and other countries has thrown that conventional wisdom out the window.

Regional carrier Mesa Air Group Inc. says it has a tentative contract with its pilots union after 10 months of negotiations.

US Airways Group Inc. said Friday that total consolidated traffic and capacity fell in September compared with the same month a year ago.

The outlook for airlines is improving, with lower fuel prices and fewer seats setting carriers up for a better 2009, Barclays Capital analyst Gary Chase wrote on Thursday.

The following are the rankings of 19 airlines' on-time performance in August, according to data provided by the Department of Transportation's Bureau of Transportation Statistics:

Expectations for a "sickout" by some US Airways pilots fizzled as the union warned members that it's illegal to try to put pressure on management by staying home from work.

Shares of some top airlines companies were mixed at the close of trading:

Airline shares were among the best performing stocks in the third quarter, with double-digit percentage increases for most major carriers.

Shares of some top airlines companies are mixed at noon:

Airline shares bucked the broader market on Friday, rising despite the sell-off on Wall Street.

Shares of some top airlines companies are mixed at 10 a.m.: