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Claymore to launch airline ETF

Claymore is to launch the first airline-focused ETF. The fund, which will be named Claymore/NYSE Arca Airline ETF, is expected to be introduced in January.

iShares Dow Jones US Transportation index includes several airlines in small percentages, but the Claymore/NYSE Arca Airline ETF moves significantly further in the area of airline ETFs, being solely focused on the airline industry.

According to specialist website Seeking Alpha, the fund will contain 26 names in the passenger airline industry - 70% of which are domestic, 30% of which are global. The SEC filing has indicated that the top three components in each of the two categories will be weighted up to 15% for domestic airlines and 4.5% for international. The index provider will be Archipelago Holdings.

The Claymore/NYSE Arca Airline ETF comes following reports by Bloomberg that losses in the airline industry in 2009 will shrink to half of this year's level. Consumer spending is expected to increase, as oil has retreated from its recent highs.

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