American Airlines has also recently jumped after a it was announced that the airliner would replace Allergan  in the S&P 500, reports Terry Maxon for Dallas News. JPMorgan airline analyst Jamie Baker argued that the addition of American Airlines to the index could raise demand for the stock, especially from index funds that mimic the S&P 500.

iShares Transportation Average ETF

For more information on the airline industry, visit our airlines category.

Max Chen contributed to this article.

Full disclosure: Tom Lydon’s clients own shares of IYT.