American Airlines rides travel boom to $1.3 billion profit in the second quarter as fuel prices drop
American Airlines reported a $1.3 billion profit for the second quarter, continuing the run of strong results from the nation's airlines DALLAS -- American Air lines reported a $1.34 billion profit for the second quarter , boosted by strong ticket sales and a huge drop in the price of jet fuel, and the airline raised its profit expectations for the year. Revenue rose 5% to a quarterly record of $14.06 billion. International travel in particular is picking up, and that is helping American, United Airlines and Delta Air Lines. Thanks to lower fuel prices, the carrier's spending at the pump plunged 32%, saving the American about $1.3 billion compared with a year earlier. That was partly offset, however, by labor costs that are rising and will soon increase much more rapidly. Analysts were disappointed in American's forecast that third-quarter revenue per seat will decline about 6% as the airline adds more flights, which could renew concern about the durability of strong...