American Airlines profit and forecast beat on higher fares

American Airlines posted Thursday quarterly profit and 2019 guidance that beat Wall Street estimates thanks to higher fares and healthy passenger demand, sending its shares up nearly 6%. Smaller rivals Delta Air Lines Inc and United Airlines had kicked off Q4 earnings earlier this month with profits that also beat analysts' expectations. American said revenues per mile flown would be flat to up 2% in the current quarter. American said it expects its revenue growth to outpace rivals. It forecast US$1b of additional revenue in 2019 as it continues to optimise its network, expands its Premium Economy product and adds new gates at its Dallas-Fort Worth and Charlotte hubs. The company also said it sees more than $300m of cost savings in 2019. <br/>