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HomeFinancialAmerican Airways (AAL) 1Q 22 earnings

American Airways (AAL) 1Q 22 earnings

American Airways Boeing 787-9 Dreamliner takes off from Los Angeles worldwide Airport on November 11, 2020 in Los Angeles, California.

AaronP | Bauer-Griffin | GC Photographs | Getty Photographs

American Airlines on Thursday forecast a second-quarter revenue as sturdy bookings assist it cowl hovering gasoline prices.

American, the nation’s largest airline, stated March was the primary month for the reason that pandemic started that its income surpassed 2019 ranges and stated bookings have continued to rise. It forecast second-quarter gross sales as a lot as 8% greater than the identical interval three years in the past.

It expects to fly as a lot as 94% of its 2019 schedule, greater than rivals Delta Air Lines and United Airlines, which have been extra conservative about restoring capability all through the pandemic.

American is the third main airline to report outcomes. United stated Wednesday it expects to return to a revenue this yr due to a surge in bookings and fares, echoing comparable feedback every week earlier from Delta. United’s forecast despatched airline shares greater in after-hours buying and selling Wednesday.

American shares surged after reporting outcomes and have been up greater than 10% in premarket buying and selling Thursday, up from a roughly 5% improve fueled by United’s outcomes. United was up greater than 8%.

Here is how American carried out within the first quarter in contrast with what Wall Road anticipated, based mostly on common estimates compiled by Refinitiv:

  • Adjusted loss per share: $2.32 versus an anticipated $2.40
  • Whole income: $8.9 billion versus anticipated $8.826 billion

American posted a internet lack of $1.6 billion within the first quarter on income of practically $8.9 billion, greater than double its $4 billion in gross sales a yr in the past and forward of analyst estimates. Gross sales have been down 16% in contrast with the identical quarter of 2019.

The Fort Price, Texas-based airline stated it paid $2.80 a gallon for gasoline within the first quarter, up 65% from final yr. American stopped hedging gasoline after oil costs cratered in 2014.

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

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