Airlines have proven resilient amid choppy trading today, with United Continental (UAL) and Delta (DAL) both rising more than 3% on light trading. Crude oil futures rose slightly, which can sometimes push airline stocks down because fuel is such an important part of their cost structure.
Airlines cashed in on holiday travel this year, as passengers paid 6% more for round-trip fares this year, Bloomberg reported. Fewer passengers are expected to fly this year, but airlines have also cut back on the number of seats available, meaning planes were expected to be particularly packed.
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