Airline stocks drop with approaching holiday

 

Airline stocks balanced to the lower end for the second week in a row as investors worry over a slow economy and early proof of decelerating revenue increase ahead of the busy Fourth of July weekend.

 

The NYSE Arca Airlines Index fell 1.4 $ to 35.38 points with nine of its 13 components in red. The sector is down around 5% for the week, which is an improvement from the 8% drop seen in the previous week.

 

For the entire month of June, the airline index has more than doubled as airlines anticipated strong unit revenue growth as the industry entered a period of peak travel demand.

 

Source: Market Watch

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