BUZZ-Airline stocks take off on summer travel rebound hopes

** Shares in American Airlines, Southwest Airlines, Spirit Airlines rise premarket after Q1 results

** AAL up 3.5% at $21.73 after reporting a smaller quarterly loss as rising vaccination rates prompt more people to opt for air travel; co no longer looking to raise liquidity, CFO says in a post-earnings call 

** LUV up 2.4% at $63.51 after it forecasts lower cash burn in Q2 on the back of an "optimistic summer" for travel industry, posts smaller-than-expected loss

** Spirit Airlines also up 2% at $36.8 after posting a smaller loss than feared 

** Delta Air Lines, JetBlue Airways and United Airlines rise between 1.4% and 1.6%

** UAL last week reported a bigger-than-expected $2.4 bln adj. net loss on rising fuel costs and operating fewer flights 

** The wider S&P 1500 Airlines index up 25.5% YTD vs the 11% rise in the S&P 500 

(Reporting by Sruthi Shankar in Bengaluru) ((sruthi.shankar@thomsonreuters.com;))