United Continental Holdings shares surged more than 8 percent Wednesday after the third-largest U.S. airline raised its 2018 profit outlook and said higher fares are helping to recover most of the surge in fuel costs over the past year.
United is the only major airline whose stock is up this year and the recent gains represent a victory for CEO Oscar Munoz. He's been under fire for a series of public relations disasters since early 2017, including the violent dragging of a passenger off a flight and the death of a passenger's puppy in an overhead bin in March.
Munoz has also struggled to persuade investors that the airline's aggressive growth plan wouldn't spark a fare war among airlines. The company's stock fell more than 11 percent in a single day in January after the airline said it would grow as much as 6 percent a year through 2020.