Claymore launched the industry’s first exchange traded fund that invests in global passenger airline companies.

The Claymore Airline ETF (FAA) tracks the NYSE Arca Global Airline Index.  The index is weighted approximately 70% in US airlines and 30% in international airlines.

As of December 31, 2008, the top five Index constituents were AMR Corp (AMR), Continental Airlines Inc(CAL), Southwest Airlines Co (LUV), JetBlue Airways Corp (JBLU) and Delta Airlines Inc (DAL).

See the Claymore ETF directory for a complete listing.