US airlines jump as fares go up in July

Shares of U.S. airlines rise after Consumer Price Index data shows rising airfare in July

Data shows airline fares rose 4% in July vs 0.1% fall in the preceding month, marking the first year-over-year as well as sequential increase in six months

Jetblue Airways JBLU.O, American Airlines AAL.O up nearly 10%; United Airlines UAL.O, Delta Air Lines DAL.N up about 9%; Southwest Airlines LUV.N up 4%

Major airlines have been cutting capacity in a bid to drive up airfares and protect their margins

Airlines have also been focusing on sales of premium seats amid an overall travel demand slump in the U.S.

High margins and strong demand for premium seats are helping offset pullback in spending by price-sensitive customers

As of last close, Dow Jones U.S. airlines index .DJUSAR fell 9.32% YTD