The fledgling recovery in Asian airline stocks caught an updraft on a bullish outlook from one of the world’s largest carriers.

Shares of airline companies in the region surged on Friday, following gains in U.S. peers after American Airlines Group Inc. said it would increase July flights by 74% compared with this month, suggesting that travelers may be returning more quickly than expected. The U.S. carrier’s stock skyrocketed 41%, the most on record, pushing its market cap back above $7 billion.

Korean Air Lines Co. surged as much as 18%, after adjusting for a rights issue, leading advances in Asia Pacific peers. Air China Ltd. gained as much as 8.4% and Cathay Pacific Airways Ltd. rose 5.7% in Hong Kong, while Japan Airlines Co. gained 8% and Australia’s Qantas Airways Ltd. 7.4%. On the mainland, China International Travel Service Corp. climbed as much as 8.2%, Shanghai International Airport Co. 4.1% and Guangzhou Baiyun International Airport Co. 3.4%.

With the coronavirus outbreak appearing to be largely contained in many countries, headlines and announcements related to the lifting of travel restrictions is music to the ears of airline companies pummeled by lockdowns. The Bloomberg Asia Pacific Airlines Index has advanced 17% since bottoming in late-March.

China will begin easing restrictions on foreign airlines starting June 8, changing course after the Trump administration demanded it reopen to U.S. companies or face curbs on its own carriers flying passengers to America. The Nikkei reported that Japan will waive its two-week quarantine for business travelers from countries where border restrictions have been eased, provided they prove they have tested negative for the coronavirus.

Nomura Holdings Inc. said in a report Thursday it assumes passenger numbers will recover to pre-pandemic levels next fiscal year for Japanese airlines. It maintained its buy rating on JAL, while cutting peer ANA Holdings Inc. to neutral saying its “share price appears to reflect coming recovery.”