Source: Reuters Author: Deepa Seetharaman 09/25/2009
Subject Concerned: Opinion Airlines
Shares of U.S. airlines rebounded on Sep. 25 following three straight days of losses after an analyst upgraded five carriers' stocks to a "buy".
The Arca Airline Index rose about 3 percent, led by shares of United Airlines parent UAL Corp and US Airways.
UAL jumped about 7 percent, or 63 cents, to US$9.46, while US Airways rose 3.7 percent, or 18 cents, to US$5.09 in early trading on the New York Stock Exchange.
Many U.S. carriers have bolstered their balance sheets in recent months, helping them avert bankruptcy risk in the near-term, UBS analyst Kevin Crissey wrote in a note to clients, which was released to clients after the market closed on Sep. 24.
Crissey also upgraded Continental Airlines, American Airlines parent AMR Corp and Alaska Air Group, all of which jumped more than 4 percent.