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Stocks for most U.S. and European Airlines fell and then rallied to near their original values earlier today, on arrests of 21 individuals plotting terrorist attacks on trans-Atlantic flights. The sell-off is simple enough to explain, investors being concerned that imposition of heightened security-levels and traveler reluctance to fly would put additional pressure on the ever-ailing industry.The rebound is explainable as well, as previous terrorist plots have somehow failed to bring the West to its knees. I'm flying the weekend before Labor Day, and wouldn't cancel for the world, though I'll probably (*sigh*) add yet another half-hour to my departure time for SeaTac airport.
Michael Canfield is a private investor, a business and media writer, living in Seattle. He doesn't own stock in the companies discussed in this post.
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