Southwest, American Airline stocks fall with oil price hikes
Airline stocks dropped Monday as oil prices went back on the incline, according to an Associated Press report.
Light, sweet crude for delivery in October went up $2.33 to $106.88 per barrel in Monday morning trading on the New York Mercantile Exchange, the AP said.
Fort Worth-based passenger carrier American Airlines Inc., a subsidiary of AMR Corp. (NYSE: AMR), saw its stock plummet 9.6 percent Monday morning from a Friday close of $12.94 per share to a stock price of $11.70 per share Monday morning.
Meanwhile, Dallas-based Southwest Airlines Co. (NYSE: LUV) saw its stock price fall 4.4 percent from $15.38 at close on Friday to $14.70 per share on Monday.
Southwest Airlines and American Airlines serve the New Mexico area primarily through the Albuquerque International Sunport credit scores guaranteed payday loans. American also has flights to Roswell.