Airline stocks are moving higher Wednesday in sympathy with United Airlines Holdings Inc (NASDAQ:UAL), which reported better-than-expected financial results.

• American Airlines Group Inc (NASDAQ:AAL)

• Delta Air Lines Inc (NYSE:DAL)

• Southwest Airlines Co (NYSE:LUV)

• JetBlue Airways Corp (NASDAQ:JBLU)

• Spirit Airlines Inc (NYSE:SAVE)

What Happened With UAL: United Airlines reported first-quarter revenue of $12.539 billion, which beat the consensus estimate of $12.4 billion, according to Benzinga Pro. The company reported an adjusted quarterly loss 15 cents per share, which beat analyst estimates for a loss of 57 cents per share.

Capacity was up 9.1% year-over-year, TRASM (total revenue per available seat mile) was up 0.6% and CASM (cost per available seat mile) was down 0.6%.

United Airlines reiterated expectations for full-year 2024 adjusted earnings of $9 to $11 per share versus estimates of $9.67 per share. The company also said it now anticipates 61 narrowbody aircraft and 5 widebody aircraft to be delivered in 2024, given the 737 Max grounding and production capacity constraints.

Earnings Calendar: American Airlines is set to report its first-quarter financial results before the market open on April 25. Analysts anticipate a loss of 29 cents per share and revenue of $12.602 billion. Southwest is set to report the same day. JetBlue will report earnings before the market open on April 23. Spirit is not due to report until early May. Delta reported quarterly results last week.

Airline Stocks Price Action: United Airlines shares were up more than 5% Wednesday morning. American Airlines was up about 1.77%, Delta was up 1.18%, Southwest was up 0.5%, JetBlue was up 1.38% and Spirit was up about 1.5%, according to Benzinga Pro.