Carriers worried about Europe

Investor's Business Daily – Tue 12 Jun, 2012 4:06 AM IST

Int'l Air Transport Association, a global airlines trade group, held to its forecast for airlines' profit of $3 bil this year, but said Europe's debt crisis could cut profit. IATA's report came amid a rout of airline stocks. Top-rated discounter Spirit Airlines (SAVE - News) fell as much as 9% early before closing 7.3% down, at 17.94. Spirit said May passenger load — amount of capacity used — fell 1.7 points to 84.3%, and costs are rising. No. 1 Delta Air Lines (DAL - News) slid 2% to 10.17. United Continental (UAL - News) fell 6.1% to 22.05.

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