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Jan. 11, 2022, 7:55 a.m. EST

American Airlines shares jump 2.2% premarket after airline raises its Q4 guidance

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By Ciara Linnane

American Airlines Group Inc. shares /zigman2/quotes/209207041/composite AAL -2.93% jumped 2.2% in premarket trade Tuesday, after the airline updated its fourth-quarter guidance to reflect a less bad than expected performance. American said it now expects revenue to be down about 17% compared with the fourth quarter of 2019, before the start of the pandemic, better than previous guidance of down 20%. The company flew 61.1 billion total available seat miles in the quarter, down 13% versus the prior guidance of down 11% to 13%. The company expects cost per available seat mile, or CASM, a measurement of efficiency, to be up 13% to 14% compared to the fourth quarter of 2019, compared with earlier guidance of up 8% to 10%. "This change versus previous guidance is mainly due to lower capacity, the Company's fourth quarter holiday operational incentive program, and a write down of excess spare parts inventory," the company said in a regulatory filing. It expects its liquidity to stand at about $15.8 billion at quarter end. Shares have gained 25% in the last 12 months, while the U.S. Global JETS ETF /zigman2/quotes/207744796/composite JETS -1.38% has gained 0.1% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.01% has gained 22%.

/zigman2/quotes/209207041/composite
US : U.S.: Nasdaq
$ 16.26
-0.49 -2.93%
Volume: 34.09M
May 20, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$10.56 billion
Rev. per Employee
$281,791
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/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 19.25
-0.27 -1.38%
Volume: 6.11M
May 20, 2022 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,901.36
+0.57 +0.01%
Volume: 3.00B
May 20, 2022 5:03p
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