American Airlines is rallying after saying it will raise bag fees
- American Airlines surged more than 4% Friday after announcing it will raise baggage fees.
- The airline has joined Delta Air Lines and United Airlines in raising the price of passengers' first checked bag to $30 and a second checked bag to $40.
- Delta Air Lines, United Airlines, Southwest Airlines, and JetBlue also gained ground following the news.
- Watch American Airlines in real time here.
Airline stocks are rallying after the last of the world's three biggest carriers hiked baggage fees.
Shares of American Airlines jumped more than 4% on Friday after it joined Delta Air Lines and United Airlines in raising the fee of one checked bag from $25 to $30. A second checked bag will cost $40. The changes take place starting Friday, and are the first hike by American since 2010, according to a press release.
Piggybacking the move, Delta Air Lines gained 3.13% while Southwest Airlines added 2.11%. United Airlines and JetBlue were both up less than 1%.
On August 27, JetBlue became the first major US airline to raise prices for a checked bag. Similar price hikes by United and Delta more recently implemented.
American shares were down 18% this year.
