Goldman Sachs ups Frontier Airlines (FRNT ) to in-line from underperform and America West (AWA ) to outperform from in-line.
Analyst Glenn Engel says his upgrades were due to an improved supply/demand outlook. He maintain a neutral coverage view on the industry. He continues to estimate Frontier's loss per share will narrow from 66 cents in calendar year 2004 to 45 cents in calendar year 2005 and 5 cents in calendar year 2006.
He also a maintains forecast for America West's loss per share to narrow from $2.55 in 2004 to $2.30 in 2005, and 90 cents in 2006.