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Non-Tech : American Airlines Group, Inc.
AAL 23.76-6.6%1:00 PM EST

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From: Sam4/9/2019 8:31:59 AM
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American Airlines Trims Unit Revenue, Margin Outlook; Shares Rally -- MarketWatch

Dow Jones Newswires | April 09, 2019 08:27:00 AM ET

American Airlines Group Inc. (AAL) trimmed its first-quarter unit revenue guidance, citing the negative impact of the government shutdown, the grounding of its 737 MAX fleet. The air carrier now expects total revenue per available seat mile (TRASM) to be about flat to up 1.0% from a year ago, compared with its previous guidance of flat to up 2.0%. The company also cut its outlook for adjusted pre-tax margin to 2.0% to 4.0% from 2.5% to 4.5%, citing an increase in fuel prices, and said available seat miles for the quarter will be "slightly higher" than previous guidance. The company said it cancelled 940 flights during the quarter, as a result of the "unplanned" removal of 14 737-800 aircraft made by Boeing Co ( 04-08). (BA) from service, and said it has announced further flight cancellations through June 5, assuming that its 737 MAX 8 aircraft won't be available through that date. American said the financial costs of the service disruption "cannot be forecasted at this time." American's stock, which rose 1.2% in premarket trade, has edged up 5.5% year to date, while the NYSE Arca Airline Index has rallied 12.2% and the S&P 500 has climbed 15.5%.

-Tomi Kilgore For more from MarketWatch:
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