Things in the Sky

We saw the end of the second quarter last week, so I thought I’d post some airline stock performance. If I copied down the numbers right, the results are pretty interesting.

The trends make sense, since the market as a whole bottomed out in March and a bit of a recovery followed (not sure how much of a recovery it is compared to where we were a year ago).

United and US Airways were both hammered – it appears that the Street is the most concerned about their future financial health. American was slightly above those two, and Delta and Continental were treated a bit  better by investors.

The fact that AirTran was positive is also not surprising based on the carrier’s first quarter results. The same goes for Pinnacle, but I am wondering why it went up so much. And I think Hawaiian’s first quarter profit can help explain why it’s decline for the first half was only a modest one.

What did surprise me is that Allegiant was hammered a bit. The best reason that comes to my just-completed-freshman-year-of-college-mind is that maybe investors thought it was overvalued, as the stock did have a nice little run before 2008 closed (and maybe after that run up, some decided to take their profits and sell).

Anyway, just something I found interesting. Of course, this post should not be seen as any recommendation to buy or sell any stock.