XLY•US airline shares rose after crude oil prices fell 9%, easing concerns about fuel costs. JetBlue gained 13.7%, Alaska Airlines 9.5%, American Airlines 7.4%, Southwest 7%, United 8% and Delta about 6.5%; the Dow Jones US airlines sub-index was up 5.3% year to date.
US airline shares advanced after crude oil prices fell 9%, easing concerns about fuel costs, a key expense for carriers. JetBlue Airways rose 13.7% and Alaska Airlines gained 9.5%; American Airlines added 7.4%, Southwest Airlines 7%, United Airlines 8% and Delta Airlines about 6.5%.
Investors awaited Washington's next move in the Iran war after Republicans lost control of Congress in the midterm elections. Including the session gains, the Dow Jones US airlines sub-index was up 5.3% year to date.
