Why American Airlines shares soared Thursday - Dallas Business Journal

📆 12/01/2023 21:30:00
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American Airlines now expects revenue for the fourth quarter to be more than $13 billion, up 16% to 17% compared to the prior-year period.

Shares of American Airlines Group Inc. jumped almost 9% in trading on Thursday after the carrier disclosed its profit and revenue for the fourth quarter will end up being significantly higher than originally expected after a strong holiday travel season.

American expects revenue for the fourth quarter to be between $13.1 billion and $13.2 billion, up 16% to 17% compared to the prior-year period. Previously, the companyto increase from 11% to 13%. The projected increase in revenue came as American flew a schedule with 6% less capacity than the fourth quarter of 2019, near the midpoint of its prior guidance.

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