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Traders strategize amid a pullback in airlines

The "Fast Money" traders picked stocks they liked in the airline sector amid a pullback.

A key airlines ETF dropped nearly 2 percent on Wednesday, after Southwest Airlines reported a quarterly profit drop of 33.6 percent.

Southwest's Wednesday decline isn't necessarily bad news for all airlines, trader Tim Seymour said.

"They are a mass market and low-priced carrier. That's not the same business as American or Delta," Seymour said, adding that he still likes the airlines and thinks they have attractive valuations.

Trader Karen Finerman agreed and said she also likes American and Delta.

Trader Steve Grasso said he likes Spirit Airlines, which he said rebounds faster than other airlines when the sector gets hit.

Disclosures:

PETE NAJARIAN

Pete Najarian is long stock: AAPL, BAC, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, P, PEP, PFE, calls: ABT, AMD, ATVI, BABA, BAC, BBY, CNX, COP, CS, DISH, ECA, ETP, GM, GRPN, GS, INTC, JBLU, JCP, KGC, LLY, LOW, M, MOS, MRO, MRVL, MT, MUR, NAV, NBR, PBR, RIO, SCTY, SBUX, TTS, TV, TWTR, VRX, WFT, WLL, X, XLF and puts: TWTR.

STEVE GRASSO

Steve Grasso is long: BA, CC, CHK, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own: EFA, EFG, EWJ, IJR, SPY. No shorts. Grasso's firm is long: VIRT, DVN, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, ,WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, SPY, QQQ, DIA, XLI, BGCP, VIRT, GE, AIR FP

KAREN FINERMAN

Karen Finerman is long AAL, BAC, C, DAL, long DB calls, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, and short IWM, MDY. Finerman is on the board of GrafTech International.

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, CVX, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM.