Jim Cramer is watching the airline group, which he says, ‘looks like it’s on fire.’ Cramer says that the reason for this is that both Delta (DAL) and Southwest Airlines (LUV) reported good numbers in their most recent earnings reports. Delta reported earnings for its second quarter of fiscal 2015 on July 15th that were 93% higher on a per share basis than that of the company’s second quarter of 2014 and Southwest reported earnings on Thursday, July 23rd before the market’s opening bell that were 47% higher than the same period last year on a per share basis. With good reports from two of the airlines, Cramer says that ‘tomorrow is going to tell the tale’ for the airline industry on the whole as Spirit Airlines (SAVE) announces along with American Airlines (AAL) before the stock market opens, Friday July 24th. Although many people may say that Doug Parker, the current chairman and CEO of American Airlines, ‘may have started the price war by saying ‘I’ll compete,'' Cramer says that ‘we need to hear Doug Parker say, ‘You know what? I’m pulling back,'' and that American Airlines will not need to build any more routes. Cramer says that if that is the case, than ‘AAL will follow suit with Delta,’ which Cramer mentions is his favorite of the airline stocks, ‘and Southwest.’
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