American Airlines leads drop in carriers after hurricane hit
A perfect storm of hurricane related disruptions and higher oil prices saw US airline shares skidding on the tarmac Tuesday with American Airlines shares falling to a more than 2-year low. The carrier said in a filing with the SEC that it cancelled about 2,100 flights in September due to the impact of Hurricane Florence. These cancellations reduced its Q3 revenue by about US$55m. The airline also raised its estimated fuel cost in Q3 to $2.28 to $2.33 per gallons up from its July forecast of between $2.22 to $2.27. The subsequent 3.6% drop comes even as American raised the lower end of its growth outlook for total revenue per available seat mile. The carrier is now expecting between 2% to 3%, up from 1% to 3% previously. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-10-10/oneworld/american-airlines-leads-drop-in-carriers-after-hurricane-hit
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American Airlines leads drop in carriers after hurricane hit
A perfect storm of hurricane related disruptions and higher oil prices saw US airline shares skidding on the tarmac Tuesday with American Airlines shares falling to a more than 2-year low. The carrier said in a filing with the SEC that it cancelled about 2,100 flights in September due to the impact of Hurricane Florence. These cancellations reduced its Q3 revenue by about US$55m. The airline also raised its estimated fuel cost in Q3 to $2.28 to $2.33 per gallons up from its July forecast of between $2.22 to $2.27. The subsequent 3.6% drop comes even as American raised the lower end of its growth outlook for total revenue per available seat mile. The carrier is now expecting between 2% to 3%, up from 1% to 3% previously. <br/>
