American Airlines Stock Rises After Upbeat June Traffic Data

American Airlines Group's stock rose 1.1% in premarket trade Friday, after the air carrier reported a year-over-year increase in a key industry metric for the month of June, as growth in traffic outpaced a rise in capacity. The company said June revenue passenger miles increased 2.8% to 20.4 billion, while available seat miles grew 2.4% to 23.9 billion, lifting load factor to 85.4% from 85.0%. American affirmed its second-quarter outlook for passenger revenue per available seat miles (PRASM) of a decline in the range of 6% to 8%. The stock has tumbled 26% year to date through Thursday, compared with a 12% drop in the NYSE Arca Airline Index and a 0.4% slip in the S&P 500.