Higher fares amid rising global travel have so far helped the airlines industry mitigate rising costs, but concerns over the sustainability of consumer demand have gained ground against the backdrop of high borrowing costs, inflation and job losses.
Indicating robust demand, American said it expects total revenue per available seat mile, a proxy for pricing power, to be up about 25.5% in the first quarter from a year earlier.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves midday: MongoDB, American Airlines and moreTake a look at some of the stocks making the biggest moves on Wednesday, April 12.
Source: CNBC - 🏆 12. / 72 Read more »
American Airlines’ weak profit forecast sends rivals’ stocks tumblingAmerican indicated that demand is still about as strong as it predicted in January, but the stay-the-course update came as analysts cautioned investors about a slowdown in travel bookings.
Source: nypost - 🏆 91. / 67 Read more »
As bookings slow, airline earnings will be all about hopes for peak summer travelU.S. airline stocks were higher ahead of first-quarter earnings, with investors hoping for good news about peak summer travel amid a recent slowdown in...
Source: MarketWatch - 🏆 3. / 97 Read more »