American Airlines Updates First Quarter Expectations
2022.04.12 22:11
By Sam Boughedda
Investing.com — American Airlines Group (NASDAQ:AAL) estimates first quarter revenue to be down 16% compared with the first quarter in 2019, an improvement on its recent guidance of approximately 17% despite consumer demand being affected by inflationary pressures.
The airline said that capacity compared with first quarter 2019 was down 10.7%, flying 59.5 billion total seat miles. In addition, the cost per available seat mile is expected to be up 12% and 13%, compared to previous estimates of 11% and 13%.
Fuel costs are expected to be between $2.80 and $2.85 a gallon, with approximately 895 million gallons consumed during the first quarter of 2022.
American Airlines shares are down 0.18% during Tuesday’s session and 6% so far in 2022.
