U.S. airline shares are trading higher in afternoon trading after $Southwest Airlines (LUV.US)$ and $American Airlines (AAL.US)$ raised their Q4 forecasts.
At 1:16 p.m. ET, Southwest is up 2.7% and American is up 16%.
Shares of Delta Air Lines DAL.N, United Airlines UAL.O, Alaska Air Group ALK.N rose between 1.5% and 4% in morning trading while the S&P 1500 airlines sub-index .SPCOMAIR jumped 3% to hit its highest level since June 2021.
From Southwest's earnings, it expects Q4 revenue per available seat mile (RASM) to increase between 5.5% and 7.0% vs. 3.5% to 5.5% increase forecast earlier.
AAL estimates adjusted EPS to be between $0.55 to $0.75 vs. $0.25 to $0.50 it forecast earlier.
On Wednesday, $JetBlue Airways (JBLU.US)$ forecast a smaller 2024 revenue dip compared to its previous estimate as domestic travel demand picks up. At 1:19 p.m. ET, the stock is off .98%.
