Now playing
01:44
Airplane cabins of the future
An Airbus A330neo aircraft flies during the inauguration of the 53rd International Paris Air Show at Le Bourget Airport near Paris, on June 17, 2019. (Photo by BENOIT TESSIER / POOL / AFP)
BENOIT TESSIER/AFP/AFP/Getty Images
An Airbus A330neo aircraft flies during the inauguration of the 53rd International Paris Air Show at Le Bourget Airport near Paris, on June 17, 2019. (Photo by BENOIT TESSIER / POOL / AFP)
Now playing
01:55
Airbus exploits Boeing's 737 Max woes
RENTON, WA - JANUARY 29: A Boeing 737 MAX 8 airliner lifts off for its first flight on January 29, 2016 in Renton, Washington. The 737 MAX is the newest of Boeing's most popular airliner featuring more fuel efficient engines and redesigned wings. (Photo by Stephen Brashear/Getty Images)
Stephen Brashear/Getty Images
RENTON, WA - JANUARY 29: A Boeing 737 MAX 8 airliner lifts off for its first flight on January 29, 2016 in Renton, Washington. The 737 MAX is the newest of Boeing's most popular airliner featuring more fuel efficient engines and redesigned wings. (Photo by Stephen Brashear/Getty Images)
Now playing
02:13
Boeing battles to restore public confidence
A Boeing 777X model is displayed at the Airshow China 2018 in Zhuhai in southern China's Guangdong province on November 7, 2018. (Photo by WANG Zhao / AFP)        (Photo credit should read WANG ZHAO/AFP/Getty Images)
WANG ZHAO/AFP/Getty Images
A Boeing 777X model is displayed at the Airshow China 2018 in Zhuhai in southern China's Guangdong province on November 7, 2018. (Photo by WANG Zhao / AFP) (Photo credit should read WANG ZHAO/AFP/Getty Images)
Now playing
02:24
Boeing's reputation on the line after 737 Max 8 crashes
(190313) -- WASHINGTON, March 13, 2019 (Xinhua) -- An American Airlines Boeing 737 Max 8 aircraft from Los Angeles approaches to land at Washington Reagan National Airport in Washington D.C., the United States on March 13, 2019. The United States is grounding all Boeing 737 Max 8 and 9 aircraft, said U.S. President Donald Trump Wednesday, as the country becomes the last major country to do so after two crashes by the model in recent months. (Xinhua/Ting Shen)
CHINE NOUVELLE/SIPA/Newscom
(190313) -- WASHINGTON, March 13, 2019 (Xinhua) -- An American Airlines Boeing 737 Max 8 aircraft from Los Angeles approaches to land at Washington Reagan National Airport in Washington D.C., the United States on March 13, 2019. The United States is grounding all Boeing 737 Max 8 and 9 aircraft, said U.S. President Donald Trump Wednesday, as the country becomes the last major country to do so after two crashes by the model in recent months. (Xinhua/Ting Shen)
Now playing
01:08
What is an aircraft's angle of attack?
A Qantas Airbus A380 takes off from the airport in Sydney on August 25, 2017. - Australia's Qantas unveiled plans for the world's longest non-stop commercial flight on August 25, 2017 calling it the "last frontier of global aviation", as it posted healthy annual net profits on the back of a strong domestic market. (Photo by PETER PARKS / AFP)        (Photo credit should read PETER PARKS/AFP/Getty Images)
PETER PARKS/AFP/Getty ImageS
A Qantas Airbus A380 takes off from the airport in Sydney on August 25, 2017. - Australia's Qantas unveiled plans for the world's longest non-stop commercial flight on August 25, 2017 calling it the "last frontier of global aviation", as it posted healthy annual net profits on the back of a strong domestic market. (Photo by PETER PARKS / AFP) (Photo credit should read PETER PARKS/AFP/Getty Images)
Now playing
02:33
Airbus to stop making superjumbo A380
Courtesy Stratolaunch
Now playing
01:24
World's largest plane flies for the first time
Now playing
02:56
Airbus and Boeing strengthen their duopoly
Virgin Galactic's First Spaceflight on December 13th 2018
MarsScientific.com/Trumbull Studios
Virgin Galactic's First Spaceflight on December 13th 2018
Now playing
02:31
See Virgin Galactic's historic spaceflight
vanished flight MH370 five year anniversary _00004102.jpg
vanished flight MH370 five year anniversary _00004102.jpg
Now playing
03:14
How technology has changed after MH70 disappearance
business traveller plane _00003923
business traveller plane _00003923
Now playing
03:25
The art of recycling airplanes
pkg quest virgin aircraft tour_00001010.jpg
pkg quest virgin aircraft tour_00001010.jpg
Now playing
02:59
How do planes work?
New York CNN Business —  

Getting ready to fly somewhere this summer? Here’s some bad news: Several big airlines are raising their fares.

American Airlines just increased one-way fares on domestic flights by $5. The airline confirmed the fare hike in an email to CNN Business.

The increase was spotted earlier Thursday by JPMorgan analyst Jamie Baker, who added in a research note that it appeared Hawaiian Airlines has followed American’s lead by boosting fares system-wide.

Baker also noted that Southwest raised rates on several flights, most notably for corporate travelers.

Southwest matched American’s fare increase in some markets, but the airline told CNN Business on Thursday that it did not do so “across the board in any one market.”

Hawaiian was not immediately available for comment about the reported fare increases.

Fare hikes might be a pain for customers, but investors loved the news. Shares of American Airlines (AAL) surged more than 6% Thursday. Hawaiian (HA) and Southwest (LUV) rose more than 2% and 3%, respectively. Rival air carriers Delta (DAL), United (UAL) and Alaska Air (ALK) also finished the day with healthy gains.

Wall Street greeted the possibility of higher fares at a time when oil prices are generally falling, as a good sign for future profitability. The hikes could also signal that demand from business and corporate travelers is holding up despite concerns about a slowing US economy, as well as the disruption caused by the grounding of Boeing’s (BA) 737 Max planes.

The news of higher fares appears to have caught investors by surprise, mainly because it’s been less than a month since the last industry-wide fare hike.

“We weren’t expecting another increase so soon,” Baker wrote in his report. He added that because fuel costs have been coming down as of late, “we were obsessing over domestic fares much less than usual given what we viewed as a low probability of further increases.”