There is no airline ETF that I know of. There is the AMEX $XAL airlines index but I don't think it's trade-able.
That was what I had thought. What is the best way to short airline stocks as a whole? Is there an ETF?
As I said there is no airline ETF. A decent proxy might be IYT (transports), it has the airlines in there I believe but only as a minor percentage.