I came across this article over at USAToday about buying airline stocks and I would have to agree with Matt Krantz on this one. I do not recommend investing in the airlines simply because about 98% of them are only thinking about the "bottom line" and could care less about the customers - the people they depend on for sales.

The only airline I would even consider investing in is Southwest Airlines (LUV) and possibly Virgin Atlantic if Richard Branson does decide to go public.

I came across an old BusinessWeek article with some advice on buying airline stocks:

What's key to remember is that there can be a handsome short-term payoff if you buy at or near the bottom of a downturn. Check the charts and you will find that sharp, sudden spikes have figured time and time again, even in the troubled years of late. After the horror of September 11, airline stocks actually recovered through most of 2003, investors figuring that a stronger economy would soon lift a handful of carriers' revenues and profits."