But there is more to Alaska Airlines than faulty Boeings, and it showed off as much in recent news. News that was sufficient to send shares up nearly 14% in Tuesday afternoon’s trading.

The U.S. Global Jets ETF (NYSE:JETS), a fund that tracks the airline sector, is up 34% year-to-date as of Dec. 27, compared to the Nasdaq 100's 27% gain. This surge reflects robust demand for ...