Boeing Forecasts Airline Traffic with Their Crystal Ball

Randy Tinseth, Vice President of Marketing for Boeing (NYSE:BA) Commercial Airplanes, expects global airline passenger growth of about 5 percent in 2012 as the Asia-Pacific market continues to grow.

“I think all eyes are on Europe in terms of what are they going to do with sovereign debt issues. Passenger traffic has been resilient, last year it grew around 6 percent, this year we expect to grow by 5 percent,” Tinseth told Reuters on Monday.

On the fuselage problem detected in the 787 Dreamliner, Tinseth maintained that it was not a safety issue, and expressed his confidence that it would be fixed in a “matter of days, not weeks or months.”

Here’s how shares of airline companies are reacting to the news:

JetBlue Airways Corporation (NASDAQ:JBLU): JBLU shares recently traded at $5.83, down $0.03, or 0.51%. They have traded in a 52-week range of $3.40 to $6.45. Volume today was 1,386,692 shares versus a 3-month average volume of 6,190,040 shares. The company’s trailing P/E is 20.86, while trailing earnings are $0.28 per share.

Southwest Airlines Co. (NYSE:LUV): LUV shares recently traded at $9.61, down $0.01, or 0.1%. They have traded in a 52-week range of $7.15 to $12.88. Volume today was 2,099,084 shares versus a 3-month average volume of 6,652,220 shares. The company’s trailing P/E is 41.91, while trailing earnings are $0.23 per share.

Delta Air Lines Inc. (NYSE:DAL): DAL shares recently traded at $11.14, up $0.25, or 2.3%. They have traded in a 52-week range of $6.41 to $12.13. Volume today was 3,562,172 shares versus a 3-month average volume of 11,903,200 shares. The company’s trailing P/E is 11.02, while trailing earnings are $1.01 per share.

United Continental Holdings (NYSE:UAL): UAL shares recently traded at $23.77, up $0.02, or 0.08%. They have traded in a 52-week range of $15.51 to $27.72. Volume today was 1,377,877 shares versus a 3-month average volume of 6,562,090 shares. The company’s trailing P/E is 10.52, while trailing earnings are $2.26 per share.

US Airways Group, Inc. (NYSE:LCC): LCC shares recently traded at $9.13, up $0.28, or 3.16%. They have traded in a 52-week range of $5.70 to $12.26. Volume today was 4,658,462 shares versus a 3-month average volume of 7,513,540 shares. The company’s trailing P/E is 20.77, while trailing earnings are $0.44 per share.

Spirit Airlines Incorporated (NASDAQ:SAVE): SAVE shares recently traded at $19.73, up $1.43, or 7.81%. They have traded in a 52-week range of $10.18 to $19.49. Volume today was 1,364,040 shares versus a 3-month average volume of 479,265 shares. The company’s trailing P/E is 13.36, while trailing earnings are $1.47 per share.

To contact the reporter on this story: Alex Capel at staff.writers@wallstcheatsheet.com

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