NEW YORK (MarketWatch) -- Airline stocks were mostly on the rise Tuesday, playing off data showing a resumption of international passenger growth as well as crude-oil futures falling below $78 a barrel.
In the energy pits, crude for February delivery at one point dropped below $77 a barrel before climbing back to a narrower loss.
Earlier Tuesday, the International Air Transport Association said economy travel returned to growth in November, pulling up total international passenger numbers into growth territory for the first time since late in 2008.
Premium-class ticketing, however, remains stunted, with first- or business-class sales down 6.7% from November 2008. That should continue to pressure total yields, or average ticket prices.
"There has been a rise in premium travel in recent months, which is now around 5% higher than its May low point, but much of the upturn took place mid-year, since then there has been little further progress once seasonal fluctuations are taken into account," the trade group said in a release. "Premium travel numbers are still over 20% lower than early 2008 levels."