This news increased the company's shares by more than 3% in premarket trading.
Airlines Benefit From Strong Consumer Demand During Holiday Season
U.S. carriers have benefited from strong consumer demand during the holiday season. Airlines were also able to mitigate some of the higher fuel and labor costs through higher ticket prices.
Economic Concerns and High Inflation Spark Worries About Consumer Demand
The carrier's update comes when a worsening economic outlook coupled with high inflation has sparked concerns about consumer demand.
American Airlines Expects Q4 Revenue to Rise Between 16% and 17%
The company expects to report fourth-quarter adjusted earnings per diluted share between $1.12 and $1.17, compared with its prior guidance of $0.50 to $0.70. American Airlines expects revenue to rise between 16% and 17% from the fourth quarter of 2019. It had earlier forecast growth of 11% to 13% in the quarter.
