American Airlines Improves Q4 Income Forecasts

American Airlines Improves Q4 Income Forecasts

Airlines 2022-01-25
American Airlines Group Inc. expects its fourth-quarter 2021 income to be down about 17% from the same period in pre-pandemic 2019, though it had previously expected a 20% decline.

Passenger traffic declined 13% for the fourth quarter of 2019, to 61.1 billion passenger miles, the company said in documents sent to the Securities and Exchange Commission (SEC). The previous forecast called for an 11-13% reduction. Last quarter, the pre-tax loss was expected to be between $1.24 billion and $1.17 billion.

Shares of American were up 1.7% in Tuesday's premarket session. The company's capitalization has risen 22% in the past 12 months, to $12.48 billion.

The company will release financial results for the fourth quarter and 2021 as a whole on Jan. 20.

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