The American Airlines stock market has soared to a record high after the carrier’s shares surged above $15 per share in the early hours of Monday.

The stock gained more than 15 per cent to $19.80 per share at 12:06pm local time.

The market rally has been fuelled by bullish signs from the US government, which last week approved a $2.1 trillion bailout package for the airline industry, as well as an easing of US economic concerns.

The carrier’s stock is up by more than 7 per cent in 2017 so far.

It rose more than 8 per cent last year.

American Airlines was acquired by the company AirTran Airways last year and the airline has been struggling to make profits since it was bought by United Airlines.

The deal has been controversial because it allows United to continue operating in the US.