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American Airlines raises revenue, profit expectations
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American Airlines is raising its revenue and profit expectations for the fourth quarter, a sign that travel demand remains strong despite higher fares.
In a Thursday filing with the Securities and Exchange Commission (SEC), the world's largest airline said it expects total revenue during the final three months of the fiscal year will be up 16% to 17% versus the same period in 2019. That's an improvement from the previous estimates of about 11% to 13%, according to the filing.
Revenue per seat mile is also expected to rise 24% compared to the same period in 2019, which is also higher than its previous guidance of 18% to 20%.
American Airlines Group
AMERICAN AIRLINES GROUP INC.
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Additionally, the carrier's adjusted earnings per share is also expected to fall between $1.12 and $1.17, up from prior guidance of between $0.50 and $0.70.
The Texas-based carrier is expected to report its earnings at the end of January.