Rising Oil (NYSE:USO) prices have resulted in substantial losses for airlines. Crude oil futures are trading around $112 for the first time in over two-year.
However, things are looking up. While most airlines showed losses at the close of last week, all but one of the main carriers are showing an upturn, some with significant gains. However, this may only be a temporary trend and we’ll have to wait to see if they can regain their standing under the burden of higher oil prices.
Southwest Airlines Co. (NYSE:LUV), regarded as a big cash cow, has reported meeting its breakeven for the first quarter and has increased 1.72 percent today, currently at $11.50 a share. US Airways Group Inc. (NYSE:LCC) has increased 1.23 percent to $8.23 today while AirTran Holdings Inc (NYSE:AAI) increased 1.09 percent to close at $7.41.
JetBlue Airways Corporation (NASDAQ:JBLU) has also barely reached its breakeven for the first quarter and has increased today by 2.04 percent to $5.50. Alaska Air Group Inc. (NYSE:ALK) went up by 0.46 percent to $60.86.
Delta Air Lines Inc. (NYSE:DAL) is the only one showing losses today. It dropped 0.22 percent to close at $9.05 last week, and continued to drop today by 0.44 percent to $9.01 while United Continental Holdings Inc. (NASDAQ:UAL) increased by 5.33 percent to $21.95 today after showing showing losses last week. AMR Corporation (NYSE:AMR) is up 1 percent to $5.55 as American Airlines has posted the net loss of $436 million for the first quarter 2011.