Airline Stocks Take Off
Friday, March 21st 2003, 12:00 am
By: News On 6
(Chicago-Dow Jones/AP) -- Airline stocks are up sharply today, with investors optimistic that the war will end quickly and not mean huge losses for the already battered industry.
Shares of Continental Airlines, Delta and American's parent A-M-R all have risen in the neighborhood of 25 percent.
Analysts warn that a short war might not be enough to keep additional carriers from falling into bankruptcy. And, they point out there's no guarantee that demand for air travel will pick up.
Airlines have been preparing to cut back their flight schedules and staffing levels because of a big drop in bookings that began in the days leading up to the war.