American Airlines raises profit forecast thanks to stronger demand and cheaper fuel


An American Airlines plane takes off from the Miami International Airport on May 02, 2023 in Miami, Florida. 

Joe Raedle | Getty Images

American Airlines raised its adjusted earnings outlook for the second quarter thanks to strong travel demand and lower fuel prices.

Adjusted per-share earnings will come in between $1.45 and $1.65, American estimated Wednesday, up from a previous forecast of $1.20 to $1.40 per share. The Fort Worth, Texas-based airline said it’s now expecting unit revenues in the three months ending June 30 to come in 1% to 3% lower than the same period last year, an improvement from a prior forecast for a decline of as much as 4%.

American’s shares added more than 1% on Wednesday trading while the S&P 500 fell.

The airline is scheduled to report results for the second quarter at the end of July.

Why airplanes are still worth millions after they stop flying

This article was originally published on CNBC