Lower fuel costs propel American Airlines to an earnings beat

(Reuters) - American Airlines Group Inc reported a slightly better-than-expected quarterly profit, helped by lower fuel costs.Aircraft fuel costs and related taxes fell 12.6 percent to $1.39 billion during the third quarter.The world's largest airline's net profit, however, halved as income tax provision jumped to $452 million in the quarter ended Sept. 30, from $16 million a year earlier.The company said on Thursday net income fell to $737 million, or $1.40 per share, from $1.69 billion, or $2.49 per share, a year earlier.Excluding special items, the company's profit was $1.76 per share, compared with the average analyst estimate of $1.69, according to Thomson Reuters I/B/E/S.Passenger load factor, a measure of how full the planes are flying, fell to 83.3 percent from 85.6 percent.Revenue fell 1.1 percent to $10.59 billion.American Airlines' shares were up 1.6 percent in premarket trading on Thursday. Up to Wednesday's close, American Airlines share had fallen 4 percent this year.(Reporting by Rachit Vats in Bengaluru; Editing by Anil D'Silva and Saumyadeb Chakrabarty)SEE ALSO:Walgreens is pushing back its merger deadline with Rite AidJoin the conversation about this storyNOW WATCH: Yellowstone is using 'thirsty' concrete that absorbs 50 gallons of water a minute
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