NEW YORK (AP) -- Airline stocks slid Thursday as the price of oil, one of the industry's biggest costs, rose.
The Amex Airline Index dropped 1.4 percent in early afternoon trading, with 10 of its 11 component stocks falling. The index has declined in each of the past three trading sessions, hurt by rising fuel costs and concerns about flagging domestic results.
A barrel of crude climbed 94 cents to $66.90 on the New York Mercantile Exchange.
The index's lone gainer was Frontier Airlines Holdings Inc., whose stock added 5 cents to $6.10. The carrier said late Wednesday its May traffic grew 13.4 percent on a 13.7 percent capacity increase. The Denver-based airline also said its unit revenue -- a key industry gauge that measures revenue divided by capacity -- fell 2.2 percent in May, compared to a year earlier.
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http://biz.yahoo.com/ap/070607/airlines_sector_snap.html?.v=1
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