An American Airlines plane takes off from the Miami International Airport on May 02, 2023 in Miami, Florida.
Joe Raedle | Getty Images
American Airlines raised its adjusted earnings outlook for the second quarter thanks to strong travel demand and lower fuel prices.
Adjusted per-share earnings will come in between $1.45 and $1.65, American estimated Wednesday, up from a previous forecast of $1.20 to $1.40 per share. The Fort Worth, Texas-based airline said it’s now expecting unit revenues in the three months ending June 30 to come in 1% to 3% lower than the same period last year, an improvement from a prior forecast for a decline of as much as 4%.
American’s shares added more than 1% on Wednesday trading while the S&P 500 fell.
The airline is scheduled to report results for the second quarter at the end of July.
