Tesla and Apple aren't the only stocks on a sizzling run — check out airline stocks

Tesla stock (TSLA) and Apple stock (AAPL) aren't the only big names lighting up the market right now — get a look at the take-off in shares of the major airlines as the summer travel season heats up.

Delta Air Lines stock (DAL) closed in on its 13th straight day of gains on Tuesday, rising above 2% in midday trading. The stock has climbed more than 23% in the past month, according to Yahoo Finance data. United Airlines (UAL) is the second top performer in the last month, up 17%.

JetBlue (JBLU) and American Airlines (AAL) are up roughly 15% in the past month. Southwest (LUV) is tailing behind in the airline rally with a still respectable one-month gain of 12%.

There are likely two factors behind the airline stock propulsion.

First, is the raw demand to travel at the moment — which appears to have been strong for Memorial Day weekend and now into July 4.

"I was just looking at some July 4 data," Marriott International (MAR) CEO Anthony Capuano told Yahoo Finance Live (video above) in an interview last week. "Revenue per available room is up about 10%. Forward bookings through the end of the year look particularly strong."

The bullish outlook was echoed by Marriott's long-time rival, Hilton (HLT).

"Demand is strong across the board, I don't care where you are in the world," Hilton CFO Kevin Jacobs said on Yahoo Finance Live. "We don't have months and months of visibility in our business, but from what we can see it's going to be another strong summer."

Flight searches are up 25% overall for June through August compared to the same time last year, per data from travel booking portal Expedia (EXPE). Interest is up by triple digits for more expensive trips to international destinations across Europe and Asia.

The aforementioned American Airlines recently lifted its second quarter outlook, citing continued strong demand and lower fuel costs.

"We're seeing a ton of demand," Expedia CEO Peter Kern told Yahoo Finance.

The second factor at play is the plunge in jet fuel prices.

Jet fuel prices have dropped about 38% since mid-January, according to IATA data.

"Airline financial performance in 2023 is beating expectations," Willie Walsh, IATA’s director general, said in a statement. "Stronger profitability is supported by several positive developments. China lifted COVID-19 restrictions earlier in the year than anticipated. Cargo revenues remain above pre-pandemic levels even though volumes have not. And, on the cost side, there is some relief. Jet fuel prices, although still high, have moderated over the first half of the year."

To that end, the IATA updated its 2023 industry-wide net profit outlook this month to $9.8 billion versus its $4.7 billion forecast in December.

Coupled with strong demand signals, Wall Street seems to be betting on strong profits for the airlines in the third quarter. And potentially, strong holiday travel outlooks.

As for Apple and Tesla...shares are up 7% and 53%, respectively in the last month.

Not too shabby, either.

Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Tips on the banking crisis? Email brian.sozzi@yahoofinance.com

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