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Airline Shares Plunge After Terror Alert (ABC/AP) [View All]

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democraticinsurgent Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-10-06 02:37 PM
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Airline Shares Plunge After Terror Alert (ABC/AP)
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Shares in Airline and Travel Companies Drop Sharply After Terrorist Alert
The Associated Press

LONDON - Shares of airlines and travel companies dropped sharply Thursday after British authorities reported they thwarted a terrorist plot to blow up several aircraft in flight between the United States and the Britain.

As heightened security measures caused long delays and canceled flights at airports around Europe and the United States experts said the alert could be a severe blow to both industries.

"You will always see a selloff based on the headlines today, but investors and analysts will now be waiting to see the depth of issues," said Henk Potts, equity strategist at Barclays Stockbrokers.

Shares of U.S. airlines were hit hard in pre-market trading. American Airlines parent AMR Corp.'s stock fell 69 cents, or 3.4 percent, to $19.60. Shares of UAL Corp., the parent of United Airlines, fell $1.80, or 7.6 percent, to $22.03. Continental Airlines Inc. fell $1.51, or 6.2 percent, to $22.70



Shall we poke around and see what big boys have been selling airline stock on a "short" basis, eh?
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