United Airlines Holdings (NASDAQ: UAL) raised its outlook for the current quarter, and it is giving a lift to the entire airline sector. Shares of United and JetBlue Airways (NASDAQ: JBLU) traded up as much as 7% by midday Tuesday, while shares of American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA), and Brazilian airline Azul (NYSE: AZUL) were all up 5% or more.
High fuel costs hurt Allegiant's (ALGT) bottom line in the first quarter of 2022. However, significant increase in passenger revenues drive the company's top line in the quarter.
Gol Linhas' (GOL) Q1 results benefit from significant increase in passenger revenues. The company's net operating revenues surge year-over-year, surpassing the 2019 levels.