Michael do you have a position in TWA? If so, is it a long or short?
Actually this was more of an upgrade of the secondary airlines in the industry. If you look at the performance of the primary - UAL, AMR, NWA, DAL, CAI.A, CAI.B, ALK, then you will see they have been around their year-high's. The airline industry as a whole is doing very well. 1997 has been the best year so far, then again, that's what they said in 1995, and in 1996, so who's to say 1998 won't be even better with oil prices lower? |
