Decline in UAL traffic hits its stock, other airlines’

By Dow Jones Newswires
Posted April 8 at 12:29 p.m.

Airline stocks are declining after United Continental reported that traffic fell at a faster pace in March.

“People are very nervous about pricing due to rising oil prices,” says Wolfe Trahan analyst Hunter Keay.

He notes that softer-than-expected March consolidated passenger revenue is weighing on shares of fellow air carriers, as are steady increases in oil prices.

Keay says if the cost of oil was declining, UAL’s pricing softness wouldn’t matter as much.

Its stock is down more than 6 percent, to $19.73 in early afternoon trading.  JetBlue is off 4.6 percent to $5.84; Delta down 3.7 percent, to $9.06.

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