Soaring oil prices send airline stocks down

04/10/2011 | Bloomberg · MarketWatch

The price of oil climbed to $112 a barrel for the first time since September 2008 last week, pushing down airline stocks. "The bad news is that we're now faced with another fuel crisis," Gerard Arpey, chief executive officer of AMR, said. "To the extent that oil dampens economic growth, we are all very worried about what is happening in oil markets." The price increase has prompted United Airlines to ground some of its older, less efficient aircraft.

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Bloomberg · MarketWatch

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