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American Air defers aircraft delivery, profit beats estimates

Travelers line up at an American Airlines ticket counter at O'Hare Airport in Chicago, Illinois, May 13, 2014. REUTERS/Jim Young/File Photo

(Reuters) - American Airlines Group Inc (AAL.O) reported a better-than-expected quarterly profit as fuel costs fell and the world's largest airline said it would defer taking delivery of 22 Airbus planes to be able to adjust capacity according to demand.

American's shares rose as much as 4.6 percent in morning trading on Thursday.

However, the company joined Southwest Airlines Co (LUV.N), the No.4 U.S. airline by traffic, in warning of a drop in a key profitability metric for the third quarter.

American said it expected revenue per available seat mile (RASM) to fall 3.5-5.5 percent in the current quarter, which J.P. Morgan Securities analyst Jamie...