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American Leads Airlines Higher on JPMorgan Note Citing Domestic Fare Increases

Martin Baccardax

shares surged to the top of the S&P 500 Thursday, boosting shares of rival carriers, following a report from JPMorgan that suggests airlines have been raising domestic ticket prices. JPMorgan sector analyst Jamie Baker noted that American had increased some fares by around $5 each way, noting that others such as Southwest Airlines Co. weeks ago, with increasing Southwest participation coming overnight," Baker wrote.