Airlines stocks rally after Southwest Airlines lifts Q3 revenue forecast
** Shares of airlines advance after Southwest Airlines LUV.N raises Q3 rev. forecast and announces a new $2.5 bln share buyback program
** LUV gains 6.3% at $30.18, hitting its highest level since March intraday
** Delta Air Lines DAL.N advances 5.2%, touching an over three-month high, JetBlue Airways JBLU.O up 8.3%
** American Airlines Group AAL.O added 6.1%, Alaska Air Group ALK.N rises 2.9%
** United Airlines UAL.O climbs 7.4%, Spirit Airlines SAVE.N up 3.8%
** S&P composite 1500 passenger airlines index .SPCOMAIR up 5.8%, hitting an over four-month high
** Oil prices also fell more than 3% on a report that Saudi Arabia will give up its $100 price target in preparation for raising output O/R
Reporting by Sukriti Gupta in Bengaluru
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