American 3Q Revenue Per Seat Mile Rises by 10.8%
Sep 21st 2010 5:58PM
Updated Sep 21st 2010 8:31PM
American Airlines third-quarter revenue per seat mile is likely to see a double-digit increase from a year earlier, as the largest U.S. airline benefits from an apparent rebound in travel spending.
American's so-called consolidated unit revenue will rise between 9.8% and 10.8%, parent company AMR Corp. (AMR) said in a filing with the Securities and Exchange Commission today. Revenue related to cargo and other services will increase as much as 7.6%.
Carriers worldwide are benefitting from a rebound in travel spending that's been taking place all year. Industry-wide, airline-passenger revenue increased 17% in August from a year earlier, marking the eighth straight month revenue was up year-over-year, the Air Transport Association said yesterday.
American Airlines, which will release third-quarter results in October, earlier this month said passenger traffic in August increased 3.1% from a year earlier, as a 7.1% jump in international demand offset the effect of little-changed domestic traffic.