American Airlines surges after lifting Q4 profit guide

Investing.com -- Shares of American Airlines Group (NASDAQ: AAL) surged more than 7% before the opening bell on Thursday after the carrier raised its adjusted profit guidance for the current-quarter, banking on better pricing power on the backdrop of strong demand in travel.

The airline now projects adjusted earnings per share in the fourth quarter to be between 55 cents and 75 cents, much higher than its previously issued range of it to between 25 cents and 50 cents.

Additionally, it expects fourth quarter total revenue per available seat mile (TRASM) to be about flat to up 1% vs the same period in 2023. While adjusted cost per available seat mile (CASM) to be between 5% and 6% vs prior guide of 4%-6%.

You May Also Be Interested In

• Is the global equity rally broadening? UBS weighs in
• BofA maintains underperform ratings on six BDC stocks
• Morgan Stanley course-corrects their semiconductor equipment outlook on demand