American Airlines had a third-quarter loss but raised profit forecast for the year.

From CNBC: 2024-10-24 08:01:01

American Airlines experienced a third-quarter loss, but is optimistic as they raise their profit forecast for the year. The company expects to earn 25-50 cents per share in the fourth quarter and up to $1.60 per share for the year. The airline made changes to its sales strategy after firing its chief commercial officer in May. In the third quarter, American posted record revenue of $13.65 billion and a net loss of $149 million. Unit revenue dropped 2% but the loss was narrower than the previous year. For the fourth quarter, American anticipates a 1-3% drop in unit revenue compared to last year with a capacity increase of up to 3%.



Read more at CNBC:: American Airlines (AAL) 3Q 2024 earnings