American Airlines (AAL) stock is soaring 5.02% in intraday trading following news that U.S. Transportation Secretary Sean Duffy is set to urge Congress to approve a multi-billion dollar overhaul of the nation's air traffic control system. The announcement, which is expected to have far-reaching implications for the airline industry, has sparked optimism among investors.

Secretary Duffy, accompanied by CEOs of the five largest airlines and senior executives from Boeing and Airbus, will push for the replacement of aging radar, telecommunications equipment, towers, and other facilities. While the exact cost hasn't been specified, it's anticipated to be in the "tens of billions of dollars." This significant investment in infrastructure could lead to improved safety, efficiency, and potentially reduced costs for airlines in the long term.

The urgency of this overhaul has been underscored by recent events, including a tragic mid-air collision between a U.S. Army helicopter and an American Airlines regional jet that resulted in 67 fatalities. As one of the major players in the U.S. airline industry, American Airlines stands to benefit considerably from these proposed improvements, which could explain the positive sentiment driving its stock price upward today.