It seems lolo if you're not down there on the big board trading floor screaming with the other people. But Wall Street is all about expectations, and really bad news becomes good news, if you expected something even worse. That's why American and Delta shares rose 20%-30%.
American saw its fuel bill rise 53%, a year-to-year increase of more than $800,000,000. The biggest airline in the world is now spending more than $2,000,000 a day on jet fuel!
Delta, roughly tied with United for second place, hedged half its fuel bill, buying early and locking in lower prices, and still spent $570,000,000 more on fuel than it did in the same quarter last year!

But Wall Street already knew that part. What traders liked in these reports was revenue up 5% at American, up 10% at Delta, and both cut costs so much that most of their red ink was paper losses from retiring all those older, less fuel-efficient jets. Leave that out and American lost less than $300,000,000 and Delta actually made a small profit. a bright picture? No. Silver lining? Yeah

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