US Airline Stocks Follow Market Slide
Shares of US Airways Group led major U.S. airline stocks lower on Thursday, as the sector matched a steep decline in the broader market.
US Airways shares were down 8.54 percent Thursday on the New York Stock Exchange after declining more than 10 percent earlier in the session.
Calyon Securities analyst Ray Neidl said there was no fundamental reason unique to the airline industry responsible for the decline.
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Airline shares been in a steep decline since late October, largely on spikes in the price of oil, which impacts the price of jet fuel.
The American Stock Exchange airline index , which has fallen 15 percent since Oct. 31, was down 4.73 percent.