American Airlines Shares Jump After Increasing Q4 Passenger Unit Revenue Forecast

Shares of American Airlines (AAL) - Get Report were in focus Friday after the airline company increased its fourth quarter unit revenue outlook to a high of plus 1% versus the earlier lower forecast of a negative 2.5%. The company also says it will have improved yields. This come after the International Air Transport Association said Thursday that it expects the global airline industry to make record net profits of $35.6 billion this year. North American carriers had the strongest financial performance in their analysis. The organization also said that while profitability is declining, citing rising oil prices and political, economic, and security risks as concerns, they are eyeing 2017 as another strong year with an estimated $29.8 billion in net profits. On Friday, American Airlines reported that total revenue passenger miles were 16.8 billion, down 0.2% from November of last year. Cowen analysts said it was the "best November ever."