American Airlines stock was trading at $13.85 at the market open as of 09:43 AM EDT.
In premarket trading on Thursday, shares of American Airlines (NASDAQ:AAL) jumped substantially after the company beat third-quarter profit projections. Earnings per share for the airline were $0.69, $0.13 better than expected. But it was noticed that the 50.1% increase in sales from the previous year was a quarterly record and 13% higher than the same time in 2019. This was in line with expectations. Despite capacity, which is still 9.6% below pre-pandemic levels, revenue was good.
CEO Robert Isom says that customers in the United States and other countries still value being able to travel and talk to each other after a pandemic. “Among U.S. network carriers, America has the youngest and most fuel-efficient fleet. Thanks to the hard work of our staff, we are set up well for the future. “
Movement behind American Airlines stock
As capacity gets back to within 5% to 7% of what it was before the pandemic, the company expects Q4 sales to be 11% to 13% higher than they were at the same time in 2019. Adjusted EPS is predicted to be in the $0.50 to $0.70 range for the year’s final quarter, far higher than the $0.27 analyst estimate.
As part of its efforts to get out of debt, the airline said it had paid $380 million in scheduled debt and financed lease payments. Since 2021, when the company’s debt was at its highest, it has paid off $5.6 billion. By 2025, management hopes to reduce total debt by $15 billion from the $34.2 billion shown on the balance sheet as of September 30. On Thursday morning, American Airlines (NASDAQ:AAL) stock increased by 3%.
ALK, AAL (AAL Stock), And UNP Are Scheduled To Release Their Quarter 3 Earnings On October 20
Featured Image – Megapixl © Oneinchpunch
Author Jowi Kwasu 
