American Airlines' profit beats expectations
Fare rise, lower fuel costs and strong demand trends push up its shares by 4%
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[FORT WORTH, Texas] American Airlines Group, the world's biggest carrier following a merger with US Airways last year, reported better-than-expected adjusted profit and revenue as fares climbed and fuel costs fell, sending its shares up more than 4 per cent.
The carrier, the result of a union of American and US Airways on Dec 9, said that demand trends were strong, and it expected revenue per available seat mile - a key measure of profitability - to grow 2 to 4 per cent in the current first quarter.
"This is a company that has potential to deliver stronger financial performance, as they work on implementing a new reservation system, as they work on all the many complicated tasks associated with a merger," said Henry Harteveldt, a travel industry analyst with Hudson Crossing.
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