By Dave Sebastian


Shares of airline-exposed companies rose Thursday as American Airlines Group Inc. prepares to ramp up domestic flying for the summer.

The airline said it sees travel demand starting to pick up a few months into the coronavirus pandemic.

Shares of in-flight internet provider Gogo Inc. and in-flight entertainment company Global Eagle Entertainment Inc. rose 16% to $3.05 and 16% to $4.40, respectively.

American, whose shares were up 29% to $15.30, said it plans to fly more than 55% of its July 2019 domestic capacity in the same month this year. Overall, the systemwide capacity for July would amount to 40% of the year-ago period's.

The move comes as states have begun reopening their economies in phases. However, businesses are also facing an additional challenge with the recent outbreak of protests in the U.S. against police violence.

Shares of large competitors Delta Air Lines Inc., United Airlines Holdings Inc. and Southwest Airlines Co. also rose. JetBlue Airways Corp. shares rose 14%, Spirit Airlines Inc. was up 20% and Mesa Air Group Inc. up 16%.

Shares of Sabre Corp., a travel-technology company that handles air bookings, rose 3.7%.


Write to Dave Sebastian at


(END) Dow Jones Newswires

June 04, 2020 14:36 ET (18:36 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.