Benzinga | Oct 1, 2021 12:47PM EDT

Why Southwest Airlines Shares Are Rising

Shares of airline companies, including Southwest Airlines Co (NYSE:LUV) are trading higher after data showed Merck's oral antiviral molnupiravir reduced risk of hospitalization or death in COVID-19 patients, which has helped alleviate some Delta variant concerns. Concerns over the COVID-19 Delta variant have weighed on travel outlook in recent months.

Southwest shares are trading higher by 8.3% over the past month, potentially amid reopening optimism.

Southwest Airlines is the largest domestic carrier in the United States, as measured by the number of originating passengers boarded. Southwest operates over 700 aircraft in an all-Boeing 737 fleet.

Southwest has a 52-week high of $64.75 and a 52-week low of $36.05.