January 10, 2019 / 1:14 PM / in a month

American Airlines cuts fourth quarter forecast for widely-watched revenue metric

Jan 10 (Reuters) - American Airlines Group Inc on Thursday cut its estimate for a closely watched performance metric for the fourth quarter, citing lower than anticipated improvement in demand in the domestic market.

Shares of the company fell 7 percent to $30.5 in premarket trading.

The No.1 U.S. airline said it now expects unit revenue, which compares sales to flight capacity, to increase about 1.5 percent in the quarter, compared with its earlier expectation of a rise of 1.5 percent to 3.5 percent. (bit.ly/2D1GRZi) (Reporting by Ankit Ajmera in Bengaluru)

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