American Airlines beats fourth-quarter profit expectations as higher fares buoy revenue
Publishing timestamp: 2023-01-26 09:59:15
Summary
American Airlines reported profits that beat estimates after a rocky holiday travel season. Revenue was up 16.6% from 2019 before the pandemic. The airline expects capacity to be 8-10% higher in the first quarter of 2023 compared to the year earlier. The airline paid an average of $3.50 per gallon of fuel in the fourth quarter, up 48% from last year, but expects that cost to come down. The airline plans to hire 2000 pilots for its mainline operation this year. Unit costs are expected to be flat or down as much as 3% in the first quarter compared to the year earlier.
Sentiment: POSITIVE
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Source: https://www.cnbc.com/2023/01/26/american-airlines-aal-earnings-q4-2022.html