Airlines Soar as Crude Retreats (LCC) (AMR) (DAL)

Airlines are making a bounce following the continued drop in crude prices today. WTI April 11 contracts are down $0.51 to $100.91 per barrel this morning on the Comex.

Stocks seeing upside include:

• US Airways Group, Inc. (NYSE: LCC) up 7.7%;
  
  
• AMR Corp. (NYSE: AMR) up 4.3%;
  
  
• Delta Air Lines Inc. (NYSE: DAL) up 3.5%; and
  
  
• United Continental (NYSE: UAL) up 3%.

Crude prices are retreating on word the Libyan Prime Minister has called for a cease fire in the North African nation. The announcement was made following UN Security Council approval for a no-fly zone over Libya. Eased tensions in the region will stem fears that there could be strain on exports our of the region.

For US Airways, this is the second major rebound following an initial 24% plunge as conflicts in North Africa increased. Shares fell from above $10.20 in mid-February, to just below $7.75 in early March.

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