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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Delta Air Lines Inc | NYSE:DAL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
2.85 | 6.62% | 45.845 | 45.855 | 43.16 | 43.24 | 11,261,634 | 20:24:02 |
Southwest Airlines Co. said Tuesday that a key revenue metric could fall in the current quarter, sending shares lower in early trading.
The airline estimates its fourth-quarter 2015 operating revenue per available seat mile to be flat to down 1% compared with the same period last year. Southwest had given previous guidance for operating revenue per available seat mile to rise 1%.
Shares, which have risen about 11% this year, declined 4.7% to $47.16 in early trading.
Still, the airline said its passenger traffic improved 13.9% in November from the same month a year ago. Capacity increased 9.7%, while load factor—the percentage of seats filled—rose to a record for the month at 83.2% compared with 80.1% a year earlier.
Dallas-based Southwest grew into the fourth-largest domestic carrier over the past four decades by flying exclusively within the continental U.S. But with dwindling growth opportunities at home, it has been expanding abroad.
Shares of other airlines also declined in early trading. Delta Air Lines Inc. fell 1.4%, United Continental Holdings Inc. declined 1.3% and American Air Lines Group Inc. fell 2.2%.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
December 08, 2015 10:45 ET (15:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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