Bank of America analyst Andrew Didora said this week that his bank’s data shows that airline bookings have slowed since mid-March, “and we have become a bit more cautious on 2Q23 revenues.” He lowered second-quarter revenue estimates for the big airlines by up to 2%.
Baker said, however, that international bookings are still up significantly over last year. He suggested the geographic breakdown in travel is returning to a normal pattern after tilting more than usual toward domestic trips last year. Delta Air Lines will be the first major airline to report first-quarter results on Thursday, but American’s update might have provided a glimpse of what is to come.
Just the day before, Didora, the Bank of America analyst, said he expected American to report a profit of 9 cents per share. Raymond James analyst Savanthi Syth said she had expected better from American because it benefits more than others from strong demand for travel within the US and nearby destinations in Latin America.
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