US Airways Group said on Wednesday that federal budget cuts likely hurt a key revenue measure in March because of reduced last-minute demand for flights.The carrier said unit revenue, a measure of pricing power and how full planes are, was flat in the month compared with a year earlier. US Airways added that result was lower than expected for March, and cited "reduced close-in demand believed to be driven largely by the sequester."On Tuesday, Delta Air Lines cut its first-quarter forecast for unit revenue, which is also known as passenger revenue per available seat mile.Delta had also said March unit revenue fell short of its expectations, citing lower-than-expected bookings due to automatic budget cuts mandated by sequestration and reduced demand as a result of attempts to raise prices.
Delta Air Lines, Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. Shares of DAL fell by 1.07% or $-0.16/share to $14.78. In the past year, the shares have traded as low as $8.42 and as high as $17.25. On average, 13477900 shares of DAL exchange hands on a given day and today's volume is recorded at 1804106.
US Airways Group, Inc. operates and owns passenger and freight airline carrier. Shares of LCC fell by 2.19% or $-0.345/share to $15.40. In the past year, the shares have traded as low as $7.45 and as high as $17.43. On average, 8883360 shares of LCC exchange hands on a given day and today's volume is recorded at 2411555.
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