American Airlines reports Q1 PRASM up 0.6%
Passenger demand drove a 1.8% year-over-year increase in Q1 total revenue, to a first-quarter record $10.6B. Driven by a record Q1 total passenger load factor of 82.2%, passenger revenue per available seat mile, or PRASM, grew 0.6% to 14.49c. Cargo revenue decreased 4% to $218M due in part to a 9.1% decrease in cargo ton miles. Other revenue was up 1.9% to $708M due primarily to higher loyalty revenue. Q1 TRASM increased by 0.5% to a record 15.87c on a 1.3% increase in total available seat miles. Total Q1 operating expenses were $10.2B, up 2% year-over-year. Total operating cost per available seat mile, or CASM, was 15.31c in Q1, up 0.7% fromQ1 2018. Excluding fuel and special items, first-quarter CASM was 11.88c, up 2.7% year-over-year, driven primarily by a higher volume of heavy maintenance checks.