Airlines Getting Hammered by Fuel Costs Surging

In November, the average fuel cost per gallon for U.S. airlines’ scheduled flights surged 27 percent from a year earlier, according to the Department of Transportation.

Over the past year, rising fuel costs have been a major problem for the airline industry, prompting many carriers to reduce capacity in an attempt to manage costs. They’ve also been adding back those pesky fees.

According to the DOT’s Bureau of Transportation Statistics, airlines spent $2.84 a gallon on fuel in November, up from $2.24 a year earlier and $2.79 in October. The agency also stated that total fuel use on scheduled flights in November was 1.27 billion gallons, a decrease of 2.6 percent from a year earlier and 5.2 percent from October.

Here’s how these stocks are trading now:

JetBlue Airways Corporation (NASDAQ:JBLU): JBLU shares recently traded at $5.92,. They have traded in a 52-week range of $3.40 to $6.98. Volume today was 0 shares versus a 3-month average volume of 5,577,540 shares. The company’s trailing P/E is 24.77, while trailing earnings are $0.24 per share.

Delta Air Lines Inc. (NYSE:DAL): DAL shares recently traded at $8.27,. They have traded in a 52-week range of $6.41 to $12.81. Volume today was 1,000 shares versus a 3-month average volume of 11,219,800 shares. The company’s trailing P/E is 15.60, while trailing earnings are $0.53 per share.

US Airways Group, Inc. (NYSE:LCC): LCC shares recently traded at $5.72,. They have traded in a 52-week range of $3.96 to $11.28. Volume today was 0 shares versus a 3-month average volume of 6,619,370 shares. The company’s trailing P/E is 11.39, while trailing earnings are $0.50 per share.

Southwest Airlines Co. (NYSE:LUV): LUV shares recently traded at $8.71,. They have traded in a 52-week range of $7.15 to $13.26. Volume today was 860 shares versus a 3-month average volume of 7,837,120 shares. The company’s trailing P/E is 44.44, while trailing earnings are $0.20 per share.

United Continental Holdings (NYSE:UAL): UAL shares recently traded at $17.48,. They have traded in a 52-week range of $15.51 to $27.72. Volume today was 0 shares versus a 3-month average volume of 5,664,290 shares. The company’s trailing P/E is 10.04, while trailing earnings are $1.74 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com