Airline Stocks Soar as American and Southwest Boost Profit Outlooks
American Airlines' stock rose over 7% after the company increased its adjusted profit guidance for the fourth quarter, citing strong travel demand and improved pricing power. The airline now expects adjusted earnings per share to be between 55 and 75 cents, up from the previous range of 25 to 50 cents. Additionally, it anticipates fourth-quarter revenue per available seat mile to be flat or up 1% compared to the same period in 2023, with adjusted costs per available seat mile expected to rise between 5% and 6%.
