American Airways (AAL) 3Q 2022

American Airways reported a $483 million revenue for the third quarter and joined rivals in forecasting resilient journey demand, because the airline business continues to shrug off considerations about an financial slowdown.

American’s income rose to a report $13.46 billion within the three months ended Sept. 30, up 13% from 2019 regardless of flying almost 10% much less, an indication passengers are nonetheless flying regardless of greater fares. Its quarterly gross sales got here in barely forward of analysts’ estimates.

Shares had been up 3% in premarket buying and selling after it reported outcomes.

United Airways and Delta Air Strains additionally predicted that they might be worthwhile via the tip of the yr because of robust bookings and fares.

This is how American carried out within the third quarter, in contrast with Wall Road expectations based on Refinitiv consensus estimates:

• Adjusted earnings per share: 69 cents vs. an anticipated 56 cents.
• Complete income: $13.46 billion versus anticipated $13.42 billion.

American had raised its forecast for third-quarter income final week, sending shares greater.

The business has seen robust journey demand, properly into the off-peak fall season, as shoppers proceed to fly and, in lots of instances, pay greater than they had been in 2019. All three main airways have touted stronger unit revenues in contrast with three years in the past, earlier than the Covid pandemic, a development that is serving to them greater than offset an increase in prices.

American executives will maintain a name with analysts to debate outcomes at 8:30 a.m.

That is breaking information. Examine again for updates.