Airline stocks continue to perform poorly compared to the rest of the market on a year-to-date basis. The market itself is struggling with the slow-growth US economy, most recently revealed in the very anemic first quarter GDP numbers (however revised). Consumer-oriented stocks, especially retail, are lagging. The airlines have to contend with this just like everyone else, while the easy gains from the mega-mergers recede in the rear view mirror. Energy prices have also shown some signs of life with crude oil moving past the $50 per barrel level again. While American and United shareholders are consigned to economy, Virgin America investors definitely can afford first class. Things are never dull!