American Airlines Stock Jumps As Traffic Rises To Record Level

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of American Airlines Group Inc. ran up 2.1% in premarket trade Tuesday, after the air carrier reported April traffic that rose to record levels. Traffic for the month increased 3.1% from a year ago to 18.6 billion revenue passenger miles, as a 0.8% decline in domestic traffic was offset by 12% jump in international. Capacity grew 0.8% to 22.6 billion available seat miles. That pushed April load factor up to 82.2% from 80.4%. The company said it expects second-quarter total revenue per available seat mile (TRASM) to increase 3.5% to 5.5% from a year ago, while the FactSet consensus implies growth of 4.1%. The stock has shed 3.8% year to date through Monday, while the NYSE Arca Airline Index has gained 2.8% and the S&P 500 has tacked on 7.2%.

Copyright © 2017 MarketWatch, Inc.

Continue Reading Below