Sector Snap: Airlines shares fall

The Amex Airline Index hit a new low of 15.87, down about 1.5 percent, with all but one of its 14 component stocks lower.

Delta Air Lines Inc. will add surcharges of $25 or $50 roundtrip on frequent flyers' free tickets to help offset soaring fuel costs. The change takes effect on SkyMiles award tickets issued starting Aug. 15.

In afternoon trading, AirTran was the biggest percentage loser, dropping 12 cents, or 5.4 percent, to $2.11. Earlier, shares hit a new low of $2.07.

AMR, parent of American Airlines, fell 13 cents to $5.37. Continental Airlines hit a new low of $10.38 before climbing back to $10.58, down 38 cents. UAL Corp., parent of United Airlines, lost 18 cents, to 3.1 percent, at $5.39. US Airways gave up 5 cents, or 2 percent, at $2.40.

Southwest Airlines fell 15 cents to $13.26, and Delta Air Lines lost 14 cents, or 2.6 percent, at $5.32.

Northwest was the lone gainer, rising 6 cents to $6.25.