Airlines: Mayday in the Market

In the earlier years of the jet age, swiftly growing travel and the sheer efficiency of the new planes sent airline stocks soaring — in some cases more than 1,000%. "Many a house was built on the profits that people made from 1961 through 1966 in their airline investments," says Bache & Co. Analyst Henry Siegel. Now the airline stocks are no longer the high and the mighty. They are among the leaders in the market's decline, down as a group by 37% since the beginning of the year. The drop is accelerating: the...

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