Airline stocks get knocked back on higher oil prices

[MoneyGuy]

NEW YORK (MarketWatch) -- Higher oil prices were putting the pressure on airline stocks early Monday. At last check, the Amex Airline Index slipped 2.3% to 20.27 points with all but two of its 14 components trading down. Crude oil for September delivery rose $1.02 to $124.28 a barrel in electronic trading on Globex. Leading the way down were shares of United Airlines parent UAL Corp. , off 6.5% to $7.14; American Airlines parent AMR Corp. , down 2.7% to $8.29; and US Airways , down 4.4% to $4.34. Bucking the trend were U.S.-listed shares of Brazil's Gol Linhas , up 3.6%, and Tam SA , up a fraction to $22.08.

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