American Airlines Shares Trading Higher On Strong June Traffic

Shares of American Airlines (NASDAQ: 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.