Airline Stocks Remain In The Positive Territory, While Broader Markets Goes Into Red

After suffering from severe downfall yesterday on concerns over slower economic growth across the globe, airlines stocks came back to life today. The stocks have managed to remain in the black, even after the wider market has slipped into the red in late afternoon trading. After soaring more than 8% today, the the NYSE Arca Airline Index is up barely 1.18%, while the S&P is down 1.03%. All the 13 components of the airline index are in the black. The shares that have gained the most today are Delta Air Lines DAL, which is up 3.89%, UAL Corp UAUA, which has climbed 2.85%, and US Airways LCC, which has added 0.94%. Analyst Basili Alukos of Morningstar said, “They were down pretty steeply yesterday, but the evidence doesn't suggest a double dip recession.”