Stock Market News

American Airlines second quarter profit tops estimates amid travel boom

2023.07.20 07:42


© Reuters.

Investing.com — American Airlines Group (NASDAQ:) has reported better-than-anticipated profit in the second quarter in a sign of continued strength in the post-pandemic recovery in air travel.

Adjusted net income for the three-month period climbed to $1.37 billion from $533 million in the same timeframe last year, beating Bloomberg consensus estimates of $1.12B. of $1.92 on an adjusted basis also topped expectations.

The carrier has received a boost from a decline in jet fuel costs and broad-based passenger demand, particularly during the U.S. Memorial Day weekend in late May. The momentum kept going into June despite weather issues and air traffic control shortages that have recently hit the U.S. airline industry.

Both domestic and short-haul international revenue remained solid, American added, while there has been a “noticeable” resilience in long-haul demand. Revenue, in turn, jumped by 4.7% year-on-year to a record $14.1B.

“Our operation is performing at historically strong levels, and we have worked to refresh our fleet and build a comprehensive global network,” said chief executive Robert Isom in a statement.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 82,592.13 0.82%
ethereum
Ethereum (ETH) $ 1,929.56 1.17%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.27 1.11%
bnb
BNB (BNB) $ 616.97 1.35%
solana
Solana (SOL) $ 124.42 0.61%
usd-coin
USDC (USDC) $ 0.999969 0.01%
cardano
Cardano (ADA) $ 0.701518 0.86%
dogecoin
Dogecoin (DOGE) $ 0.167018 0.71%
tron
TRON (TRX) $ 0.242596 9.76%
staked-ether
Lido Staked Ether (STETH) $ 1,927.21 1.15%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 82,388.07 0.81%
leo-token
LEO Token (LEO) $ 9.77 0.40%
the-open-network
Toncoin (TON) $ 3.57 4.31%
chainlink
Chainlink (LINK) $ 13.80 0.42%
stellar
Stellar (XLM) $ 0.275071 2.63%
usds
USDS (USDS) $ 1.00 0.03%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,311.52 0.54%
pi-network
Pi Network (PI) $ 1.18 7.40%
hedera-hashgraph
Hedera (HBAR) $ 0.186517 1.24%
avalanche-2
Avalanche (AVAX) $ 18.90 1.60%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 1.70%
sui
Sui (SUI) $ 2.28 2.55%
mantra-dao
MANTRA (OM) $ 7.04 1.14%
litecoin
Litecoin (LTC) $ 89.41 1.18%
polkadot
Polkadot (DOT) $ 4.45 3.48%
bitcoin-cash
Bitcoin Cash (BCH) $ 333.37 0.32%
bitget-token
Bitget Token (BGB) $ 4.58 3.46%
ethena-usde
Ethena USDe (USDE) $ 0.99987 0.01%
weth
WETH (WETH) $ 1,928.60 1.21%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.19%
hyperliquid
Hyperliquid (HYPE) $ 14.06 7.80%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,053.24 1.42%
whitebit
WhiteBIT Coin (WBT) $ 28.05 1.30%
uniswap
Uniswap (UNI) $ 6.38 2.88%
monero
Monero (XMR) $ 206.96 1.81%
susds
sUSDS (SUSDS) $ 1.04 0.00%
aptos
Aptos (APT) $ 5.37 1.80%
dai
Dai (DAI) $ 1.00 0.06%
okb
OKB (OKB) $ 52.50 0.96%
near
NEAR Protocol (NEAR) $ 2.56 1.25%
pepe
Pepe (PEPE) $ 0.000007 0.86%
internet-computer
Internet Computer (ICP) $ 5.81 0.60%
ethereum-classic
Ethereum Classic (ETC) $ 18.01 2.22%
mantle
Mantle (MNT) $ 0.806308 2.10%
gatechain-token
Gate (GT) $ 21.96 0.07%
ondo-finance
Ondo (ONDO) $ 0.830618 1.05%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.03 3.32%
aave
Aave (AAVE) $ 170.13 1.10%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,605.13 0.80%