Why Airline Shares Soared Again at the Open Today

Airline shares were flying higher again on Wednesday, the sector's second straight day of posting double-digit gains on improving optimism that the U.S. economy is in the early stages of a recovery. The shares gave back some of the advances as the morning continued, but much of the sector is still outperforming the broader markets as of midday.

Shares of Spirit Airlines (NYSE: SAVE) led the way at the open, jumping 18%, while shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), JetBlue Airways (NASDAQ: JBLU), Alaska Air Group (NYSE: ALK), Hawaiian Holdings (NASDAQ: HA), and Allegiant Travel (NASDAQ: ALGT) were all up double digits.