Flying higher: Managers back airlines to soar further as oil plunges

Global growth managers predict the rally in airlines can continue into 2015 and beyond as a falling oil price provides a new fillip for the sector.

On an economic basis, the effect of the collapsing oil price is only just making itself felt. As ever, the stock market reacted more quickly, with oil and gas stocks unsurprisingly bearing the brunt of the bad news. On the flipside, many on the sell side have spent the past few weeks producing lists of potential winners for a world of $50 a barrel oil. But it is airlines which have enjoyed the most immediate boost, as the prospect of cheap fuel provides another leg up for a sector that was already soaring. The Dow Jones US Airlines index, for example, has risen 44% in the past t...