AMR Again Leads Airlines in Unit Revenue Gains
DALLAS (TheStreet) -- Bankrupt American (AAMRQ.PK) led the airline industry in unit revenue gains in July, its fourth consecutive month of outpacing its rivals.
American said Wednesday that its consolidated passenger revenue per available seat mile grew by 4.7% in July.
"Our continued trend of strong unit revenue performance reflects the strength of our network and alliances and the effectiveness of our overall strategy," said spokesman Sean Collins.
American, battling to hold off a merger effort by US Airways (LCC) , has been touting its improved results as evidence that it can restructure successfully on its own, then decide whether a merger is appropriate.
In terms of July PRASM, American edged out Delta (DAL) , which earlier reported a 4.5% gain, crediting capacity discipline in the Pacific, expansion at New York LaGuardia Airport and increased corporate revenue. American's PRASM was 13.41 cents.
American's gain came on a July capacity reduction of 2.2%, compared with a year earlier, while Delta's capacity reduction was 3.1%. American's load factor was 87%, the same as a year earlier. Its Pacific load factor was 86.6%, up 5.1 points.
Also Wednesday, United (UAL) reported that its July PRASM was flat.
Earlier, US Airways reported a PRASM gain of 1%, while Southwest (LUV) reported a 2% gain. In general, PRASM gains declined across the industry due to difficult comparisons with July 2011.
-- Written by Ted Reed in Charlotte, N.C.
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