US airline stocks start to soar

US airline stocks traded higher Wednesday morning, as the Air Transport Association's monthly sales report fueled hope that the industry is turning around.

The Amex Airline Index rose 1.2% in early trading.

Merrill Lynch wrote in a new report that the ATA revenue report for July "is very encouraging and likely to have positive implications for airline share prices."

Among the biggest gainers in the early going, Delta Air Lines rose 3.6% to US$12.49 and AMR Corp. advanced 3.4%to US$10.38.