American Airlines expects to report first quarterly profit since 2019

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American Airlines Group Inc expects to report its first pretax quarterly profit since the onset of the pandemic as booming travel demand helps it offset mounting costs, the carrier said on Tuesday.

Major U.S. airlines are poised to post their strongest earnings starting Wednesday, helped by a surge in bookings driven by pent-up demand even as they grapple with higher jet fuel costs and labor shortages.

The carrier expects total revenue per available seat mile to be up about 22.5% amid a lower-than-planned capacity, as its pricing power gains momentum. “American Airlines’ overall guidance looks modestly positive.—Zawya news

 

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