American Airlines raises revenue estimates after strong fourth quarter

Airplanes are seen at Charlotte Douglas International Airport in Charlotte, USA on December 28, 2022.

Peter Zay | Anadolu Agency | Getty Images

American Airlines‘ Shares rose nearly 5% in premarket trading on Thursday after the airline raised its fourth-quarter revenue and earnings estimates on the back of strong demand and higher fares.

US estimates put revenue up as much as 17% from 2019, versus a previous forecast of an 11% to 13% increase in the pre-pandemic period three years ago.

American said revenue per seat mile is likely to have grown 24% in the quarter starting in 2019, ahead of its prior guidance of 18% to 20%.

It is expected to report adjusted earnings per share of between $1.12 and $1.17, up from its previous estimate of 50 to 70 cents.

Thursday’s update is the first hint of how a major airline was coping with a bumpy end to the year as severe weather sparked mass cancellations across the US during the busy holiday travel season. American reports full results on January 26th.

Delta Airlines will report quarterly results on Friday morning.

https://www.cnbc.com/2023/01/12/american-airlines-hikes-revenue-estimates.html American Airlines raises revenue estimates after strong fourth quarter

Sportsasff

Pechip.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@pechip.com. The content will be deleted within 24 hours.

Related Articles

Back to top button