US Airways Group rises as crude falls
US Airways Group, Inc. (NYSE:LCC) is up 9% as crude oil futures fell to $140.60 a barrel in recent trading. The Tempe, Ariz.-based airline operator announced early Monday that it experienced a 0.5% decline in traffic during June while available seats rose 0.4%. The company also reported before Monday’s opening bell that is has launched nonstop service between Montreal and Charlotte. “As we progress through the busy summer travel season, we continue to see strength in our forward bookings," Scott Kirby, US Airways’s president, said in a statement. "We are also encouraged to see that the industry is taking the appropriate steps with further domestic capacity reductions and implementing a la carte pricing models to help offset this dramatic and unprecedented rise in fuel expense.”
In Wednesday afternoon trading, LCC is up 7.43%, or $0.18, to $2.58. For detailed price information and recent news stories about US Airways Group, click LCC.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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