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Airline Industry, Led by Delta, Heads for Positive Unit Revenue, Analysts Say

The airline industry seems finally to be headed for positive passenger revenue per available seat mile.

"Positive RASM has been achieved," JPMorgan analyst Jamie Baker wrote Wednesday, in a report issued after Delta (DAL) reported better-than-expected December RASM.

Baker said RASM figures provided by Airlines for America showed flat international RASM and a 0.1% domestic RASM increase. Including regional carriers, consolidated RASM rose 0.2%, "the first instance of positive RASM in 23 months," Baker said.

Baker acknowledged that a...