Airline stocks hit hard as crude oil prices spike after Saudi processing plant attacked

Shares of airline companies took hard hits on Monday, as a spike in oil prices (http://www.marketwatch.com/story/us- oils-10-surge-after-saudi-attack-puts-it-on-track-for-the-biggest-daily-gain-in-312-years-2019-09-15) sparked concerns about rising fuel costs. The stocks of all six air carrier components of the Dow Jones Transportation Average declined in premarket trading: American Airlines Group Inc. (AAL) slid 4.7%, Delta Air Lines Inc. (DAL) dropped 3.5%, United Airlines Holdings Inc. (UAL) shed 3.6%, JetBlue Airways Corp. (JBLU) gave up 3.1%, Southwest Airlines Co. (LUV) declined 3.1% and Alaska Air Group Inc. (ALK) lost 2.3%. Crude oil futures shot up 10% after the weekend attack (http:/ /www.marketwatch.com/story/why-the-saudi-oil-attack-is-a-big-deal-that-could-be-a-game-changer-in-stock-markets-and- crude-prices-2019-09-15) on Saudi Aramco's Abqaiq oil processing plant. The NYSE Arca Airline Index has lost 1.7% over the past three months, while the Dow transports has gained 4.9% and the Dow Jones Industrial Average has tacked on 4.3% .

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com


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  09-16-19 1454ET
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