LCC stocks slide as oil price volatility increases
Low cost carrier (LCC) shares came under pressure around the world yesterday, as global stock markets plunged. The oil price (the major cost item for many LCCs) was highly volatile yesterday, gaining 2% early on the New York Mercantile Exchange before plunging 8% by early afternoon to USD64.24 per barrel and settling 2% lower at USD68.01 for Jun-2010 delivery.
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