Share of airline companies soared Tuesday, as Southwest Airlines Co.'s /zigman2/quotes/201071949/composite LUV +0.65% not-to-bad results and capital raise, and gradual reopenings by states helped provide a tailwind. The U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS +1.21% shot up 7.8% in afternoon trading, with 28 of 33 components gaining ground. Among the most-active components, shares of American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL +4.42% ran up 13%, Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +2.65% hiked up 9.8%, and United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL +4.46% ran up 10.0%. Southwest's stock rallied 2.3%, to reverse earlier losses of as much as 3.0%. Earlier, Southwest reported a narrower-than-expected loss but revenue that missed expectations, and also announced a public offering of 55 million shares and $1 billion worth of convertible debt. Elsewhere, shares of Hawaiian Airlines parent Hawaiian Holdings Inc. /zigman2/quotes/203188135/composite HA +3.23% climbed 16% after the company disclosed details of the government aid it received and was still expecting to receive. Shares of Jetblue Airways Corp. /zigman2/quotes/207639051/composite JBLU +2.04% gained 11% and Spirit Airlines Inc. /zigman2/quotes/205782179/composite SAVE +3.12% advanced 16%. The Jets ETF has lost 53% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.60% has declined 12%.