Updated from 2:36 p.m. EDT

The transportation industry was enjoying a strong session Wednesday as several trucking and airline stocks were rallying on good news regarding inventory and an economic recovery.

Shares of

YRC Worldwide

(YRCW) - Get Report

jumped 44.5% after the company said that low business inventories will result in a boon for trucking names once the economy recovers. "There is no inventory anywhere," CEO Phil Zollars said during an analyst conference, according to

The Wall Street Journal

.

Among other transportation stocks rallying Wednesday were

Con-Way

(CNW)

, up 9%,

Old Dominion Freight Line

(ODFL) - Get Report

, which gaining 7.5%, and

J.B. Hunt Transport Services

(JBHT) - Get Report

, higher by 6.1%.

Several airline companies were also enjoying a sharp rally, including several that found their way onto

Moody's Investment Services' The Bottom Rung

list as being in risk of default.

UAL

( UAUA) was higher by 13.3%,

JetBlue Airways

(JBLU) - Get Report

was rising 11.3% and

AMR

(AMR)

was up 3.8%.

Not all transportation stocks were participating in the move higher. Among the laggards,

Universal Truckload Services

(UACL)

was dropping 8.4%,

Quality Distribution

(QLTY)

was down 14.5% and

Dynamex

(DDMX) - Get Report

slipped 5.7%.