Airline stocks are performing at high levels following a period of intense consolidation in the industry, Bloomberg Business reports.
Stocks for the recently merged American Airlines and US Airways were trading at $30.02 at the end of last week, according to the report.
Additionally, shares for Delta, Southwest and JetBlue airlines all reached 52-week highs this month, and United Airlines was just below its record level, the report said.
Financial analysts analyst Hunter Keay of Wolfe Research said the airline industry’s performance was a testament to its recent restructuring efforts.
“The market finally seems to be rewarding the stocks,” Keay told Bloomberg.
Airline stocks on the rise
By Keith Laing - 01/21/14 10:13 AM EST