American Airlines Shares Trading Higher On Strong June Traffic

Shares of American Airlines AAL are trending sharply higher Wednesday after the company announced strong June traffic figures.

Total revenue passenger miles were up one percent year-over-year to 19.9 billion. Similarly, total capacity rose 3.2 percent to 23.4 billion available seat miles.

For the second quarter as a whole, American Airlines said it expects consolidated passenger revenue per available seat mile to jump 5.5 to 6.5 percent year-over-year. Pre-tax margin is expected to fall between 12 and 13 percent.

Shares of American Airlines are up 5.5 percent Wednesday morning to $42.52.