NEW YORK (TheStreet) -- The airline sector has been beaten up very badly, but TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said he is feeling more "emboldened now" and ready to buy.
What changed his mind about the sector? Cramer cited recent comments from American Airlines (AAL) - Get Report CEO Doug Parker about how some companies will boost their fleet size by 8% to 10%, vastly higher than the 1% to 2% many were expecting.
"I'm very encouraged by this statement," Cramer said.
He added that the airlines are an important leadership group for the broader stock market. It would be bullish for this group of beaten-down stocks to trade higher, he concluded.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.