American Airlines gains after guiding for narrower Q3 loss than anticipated
Updated On: Oct 14, 2021
American Airline Group (NASDAQ:AAL)reports preliminary Q3 revenue to be down 25% from the level of Q3 vs. prior guidance for -24% to -28%. A preliminary adjusted net loss for Q3 of $620M to $675M is reported vs. -$720M consensus.
AAL flew 61.1B total available seat miles, which was down 19.4% from the level in Q3 of 2019 and at the lower end of its prior guidance of down 15% to 20%.
AAL's operational update: "During the summer, the Company executed on the largest and fastest operational ramp-up in its history as a response to recovering demand. Despite ramp-up related challenges, the Company took several corrective actions and saw continuous improvement through the quarter. Operationally, the Company recorded its best September in its history since the merger as defined by completion factor (99%), on-time departures (76.6%), and on time arrivals (86.2%). The Company expects this trend to continue in October."
American Airlines Group (AAL) expects to end the quarter with liquidity of $18B.
Shares of AAL are up 1.09% premarket to $20.35 after the encouraging update.