Shares of Northwest Airlines Corp. (NWA) jumped 10.63% on Wednesday morning after chief executive Doug Steenland said that he expected the merger with Delta Airlines (DAL) to be wrapped up by the end of this year in spite of opposition from labor unions.

He added that Northwest can reap profit if crude oil price stabilizes near the $100-mark. According to Reuters, Steenland refuted any doubts that the credit crunch will cast a shadow on the merged airline as the entity would have $6 billion in cash on closing.

Delta is also up 11.14% a day after AP reported that airline stocks were some of the star performers in the third quarter, with most major carriers clocking double-digit percentage hikes.

Delta Air Lines, Inc. (DAL) shares took off by 3.81% on Monday morning and touched $8.44, within touching distance of its 52-week high of $8.49. The bump up came on the heels of the airline’s announcement that four proxy advisors have recommended the merger with Northwest Airlines Corp. (NWA). The latter went up by 2.1% to $10.06.

On a day when the financial stocks were pummeled, Monday is proving to be a good day for the aviation sector. Reacting positively to the news of crude oil prices reaching a seven-month low of $96, airline shares have gained traction. UBS has upgraded Delta from Hold to Buy. While AMR Corp. (AMR) rose $1.09, or 10.4%, to $11.48, Continental Airlines Inc. (CAL) added $1.71, and touched $20.66. UAL Corp. (UAUA), which had tanked last week, rose 10.3% to $12.53.