• News
• Video
• TV
• Radio
• Weather
• Sports
• Traffic
• Movies
• Studio 5
• More

• Home
• Local
• U.S.
• World
• Showbiz
• Biz/Finance
• Sci/Tech
• Health
• Odds & Ends
• Religion
• Education

Print

Email

Share

Comment Board »

0
Comments

DALLAS (AP) - Following the pattern of the broader market, shares of major U.S. airlines fell on Wednesday, ending a two-day rally.

The Amex airlines index lost 2.7 percent, with all 13 of its components lower in afternoon trading.

The Dow Jones industrial average fell more than 19 points by Wednesday afternoon after rising 230 points over the previous two days.

The retreat came after a report that service-sector activity was less than analysts expected. That news seemed to weigh heavier with investors than another report that private employers cut fewer jobs than expected in January. The government's report on January employment will come out Friday.

Oil prices fell Wednesday on new reports of weak demand for energy. U.S. petroleum consumption has been falling since 2007. Benchmark oil for March delivery slipped 25 cents to $76.98 a barrel on the New York Mercantile Exchange.

American Airlines reported a 0.4 percent increase in traffic during January. Even with the tiny increase in traffic, planes were fuller because the carrier cut flights.

Alaska Airlines said January traffic rose 9.5 percent. US Airways reported a decline of 1.3 percent, but it collected 2 percent more revenue per mile and seats flown, raising hopes that business travel might be picking up.

In afternoon trading, shares of American parent AMR Corp. fell 24 cents, or 3.1 percent, to $7.49; US Airways Group Inc. dropped 26 cents, or 4.4 percent, to $5.70; and Alaska Air Group Inc. rose 4 cents to $33.29.

Continental Airlines Inc. fell 80 cents, or 4.1 percent, to $18.93; United Airlines parent UAL Corp. dropped 45 cents, or 3.3 percent, to $13.27; Delta Air Lines Inc. fell 50 cents, or 3.9 percent, to $12.40; and Southwest Airlines Co. lost 11 cents at $11.44.