JPMorgan Chase & Co. and Delta Air Lines Inc. forecast that the economic rebound will boost travel spending. The AMEX Airline Index jumped 3.8% to 28.63 in New York, bringing its climb since Sept. 2 to 26%. The measure, which includes companies from Alaska Air Group Inc. to AMR Corp., has soared 125% since reaching a low on March 9. JPMorgan analysts upgraded UAL Corp. and US Airways Group Inc. in a Sept. 10 report that said the industry’s revenue in the last two months has beaten estimates. Delta, the world’s largest carrier, increased its profit margin estimate yesterday as customers scooped up lowered fares for summer vacations. Economic reports from USretail sales to manufacturing in China have signaled that the global recession is easing. The Dow Jones Transportation Average climbed 0.3% on Tuesday, extending an 8 day advance that has lifted the measure by 11%, according to data compiled by Bloomberg. Read more
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