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AIRLINE STOCKS: LOSING ALTITUDEAirline stocks hit a downdraft on June 10 amid worries about earnings and the prospect of a new excise tax. The Amex index of 10 airlines was down 3.3% from the previous day. Hardest hit: Northwest Airlines dropped 7.8%, to 35 5/8. The Air Transport Assn. says a proposal by Representative Bill Archer (R-Tex.) could cost the industry $4.5 billion over five years. PaineWebber's Samuel Buttrick thinks stocks will be under a cloud all summer but says the uncertainty should be resolved by September.
EDITED BY KELLEY HOLLAND RELATED ITEMS
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Updated June 23, 1997 by bwwebmaster
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