American Airlines, one of the nation’s largest carriers, released bullish news on May 9, boosting its TRASM guidance as April passenger volumes jumped from last year. As ETF Daily News reports, the U.S. Global Jets ETF (NYSE: JETS) jumped to a new 52-week high following the news. American is one of the top four holdings in the airline industry-related ETF. The positive news sent shares of American over 3 percent that morning, with several of its competitors benefiting from the move as well.
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The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. It is not possible to invest directly in an index.
Total revenue per available seat mile (TRASM) is calculated by dividing total operating revenue by available seat miles. Typically the measure is presented in terms of cents per mile.
Revenue passenger miles (RPMs) and revenue passenger kilometers (RPKs) are measures of traffic for an airline flight, bus, or train calculated by multiplying the number of revenue-paying passengers aboard the vehicle by the distance traveled.