On June 28, 2024, an American Airlines Boeing 737 MAX 8 aircraft took off from Phoenix and arrived at San Diego International Airport, preparing to land in San Diego, California.
Kevin Carter | Getty Images
American airlines Unit revenue is expected to fall 4.5% in the third quarter as high demand fails to make up for an industry-wide glut of flights, forcing airlines to slash fares.
Despite revenue growth, the airline's second-quarter profits fell 46%.
The airline has been grappling with an industry-wide oversupply of flights, and its direct-to-consumer sales strategy has backfired. it says in one Earnings report released on Thursday After receiving complaints from travel agents and customers, the company “took prompt and aggressive action to realign its sales and distribution strategy.”
Here's how American Airlines' second-quarter performance compares to Wall Street forecasts compiled by the London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $1.09, expected $1.05
- income: US$14.33 billion, expected US$14.36 billion
American Airlines shares fell about 8% in premarket trading Thursday.
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