Skift Take
While American Airlines' second quarter results were good, they weren't quite good enough for investors after Delta and United set a high bar.
American Airlines is performing well, and it expects the strength to continue. The Fort Worth-based Oneworld carrier said on Thursday it generated $14.4 billion in revenue for the second quarter. Net profit reached nearly $1.4 billion.
Strong ticket sales contributed to the airline earning its highest quarterly revenue in the company's history. Profits were also boosted by a 35% decline in average jet fuel prices.
Because of the strong results, the airline lifted its earnings outlook for 2023: It now expects $3 to $3.75 per share, up from its previous forecast of $2.50 to $3.50.
"Our operation is performing at historically strong levels, and we have worked to refresh our fleet and build a comprehensive global network, all of which helped to produce record revenues in the second quar