- American Airlines raised its adjusted earnings outlook for the second quarter.
- The carrier cited strong travel demand and low fuel prices.
- US CEO Bernstein is scheduled to speak at an investor conference later Wednesday.
An American Airlines flight departs from Miami International Airport in Miami, Florida on May 02, 2023.
Joe Radle | Good pictures
American Airlines raised its adjusted earnings outlook for the second quarter due to strong travel demand and lower fuel prices.
In the US, adjusted earnings per share will come in between $1.45 and $1.65 is estimated Wednesday, the previous forecast of $1.20 to $1.40 per share. The Fort Worth, Texas-based airline expects unit revenue in the three months ended June 30 to be 1% to 3% lower than the same period last year, an improvement from a previous forecast of 4%.
US stocks rose as much as 1% in morning trade while the S&P 500 edged lower.
American Airlines CEO Robert Isom is scheduled to speak at the Bernstein Strategic Decisions Conference on Wednesday at 4:30 p.m.
He faces questions about whether the carrier will appeal a federal judge’s ruling this month that struck down American’s new preliminary labor agreement with pilots and Northeast’s partnership with JetBlue Airways.
The airline is expected to report second quarter results at the end of July.