ohcaptainron
Member
- Sep 12, 2002
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Airline Shares Drop
Airline shares fell after Merrill Lynch & Co. analyst Michael Linenberg cut his rating on Continental Airlines Inc., Delta Air Lines Inc. and AirTran Holdings Inc. Carriers are adding too many flights on the U.S. East Coast, and that will hurt profits, he wrote in a report titled ``Battle for the East.''
Delta, the third-biggest U.S. carrier, slipped 10 cents to $3.60. Continental declined 19 cents to $9.31. AirTran, a low- cost airline that moves half its traffic through Florida, lost 9 cents to $10.83.
Airline shares fell after Merrill Lynch & Co. analyst Michael Linenberg cut his rating on Continental Airlines Inc., Delta Air Lines Inc. and AirTran Holdings Inc. Carriers are adding too many flights on the U.S. East Coast, and that will hurt profits, he wrote in a report titled ``Battle for the East.''
Delta, the third-biggest U.S. carrier, slipped 10 cents to $3.60. Continental declined 19 cents to $9.31. AirTran, a low- cost airline that moves half its traffic through Florida, lost 9 cents to $10.83.
