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Security fears hit airline shares Security fears hit airline shares
(about 5 hours later)
Shares in US airlines fell on Monday following the alleged attack on a US plane to Detroit. Shares in US airlines fell on Monday following the alleged bomb attack on a US plane bound for Detroit.
Shares in Delta Air Lines were down 2.9% in early trading while AMR, parent of American Airlines, saw its shares fall 2.7%. Shares in Delta Air Lines, the parent of Northwest, fell 4.1% while AMR, parent of American Airlines, saw its shares fall 4.8%.
Experts have warned that renewed terror concerns and potentially tighter airport security measures could depress business travel demand. Airport security measures have been tightened following the security incident on Christmas Day.
Transatlantic business travel has been hit hard by the global recession. There are fears that renewed security concerns could further depress demand for air travel.
The airline business also suffered badly after the terrorist attacks of 11 September 2001. That would add to extra costs that could be incurred as a result of increased security measures.
They lead to a big drop in the number of passengers flying and a huge increase in security costs. The airline industry suffered big falls in revenues following the attacks on 11 September 2001.
Billions of dollars have since been spent on aviation security. By the end of trading on Wall Street on Monday shares of UAL Corp, parent of United Airlines, were down 3.4% at $12.64.
Falls in shares were seen across many airlines in the first day of trading since the suspected terrorist plot was uncovered. Shares of US Airways Group, meanwhile, were down 6.7% at $5.02.
Shares of UAL Corp, parent of United Airlines, were down 3.06% at $12.69 this morning. Shares of US Airways Group were down 2.8% at $5.23.