15 August 2008

Merril Lynch puts its money where its mouth was - at US Airways

ML has been talking up US Scareways for a few months now. They raised their rating to a buy recently. Well today they put their money where their mouth is. They bought 19 million newly issued shares. This would give them about 16% of the total company enough for them to get a board seat I would think. it also gives US the ability to ride out the winter down period.

So lets see if anyone else wants to buy into the Airlines' stocks. We are finally seeing some normality return with Airline stocks becoming counter cyclical to oil stocks.



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