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American Airlines raises estimate for key revenue metric


(Reuters) - American Airlines Group Inc on Wednesday raised its estimate for a closely watched performance metric for the second time this year, citing higher average fares.The No.1 U.S. airline's shares rose as much as 3.1 percent in morning trading, lifting stocks of other large carriers.Unit revenue - which compares sales to flight capacity - is expected to increase by about 5 percent to 6 percent in the second quarter, compared with a 3.5 percent to 5.5 percent rise estimated earlier, American Airlines said.The company also raised the lower end of its adjusted pre-tax margin forecast to a ...

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First Published: Wed, July 12 2017. 22:19 IST