Delta Air's June unit revenue up less than forecast; shares off
July 2 (Reuters) - Delta Air Lines Inc on Wednesday reported that unit revenue, an important measure, rose less than it had previously forecast for the month of June.
The U.S. carrier said passenger revenue per available seat mile increased 4.5 percent for the month of June. While U.S. demand was strong, Delta noted "lower than expected international yields driven by industry-wide capacity increases and lower business demand to Latin America due to the World Cup" soccer games.
In early May, a company executive had told a Bank of America Merrill Lynch conference that unit revenues for both May and June would likely rise in the 6 percent to 7 percent range. Unit revenue at Delta rose 7 percent in May.
Delta also said unit revenue, a measure of pricing power and how full planes are, rose 6 percent in the second quarter, in line with a late April forecast.
Delta shares were down 4.4 percent to $38.54 in morning trading as other airline shares weakened. American AirlinesGroup was down 4 percent to $42.12 and United Continental was off 5.5 percent to $39.93. (Reporting by Karen Jacobs in Atlanta; Editing by Marguerita Choy)
© Thomson Reuters 2017 All rights reserved.