American Airlines raised its forecast of fourth-quarter revenue and profit Thursday, boosted by higher fares and full planes capped off with a busy holiday travel period.
DALLAS —
Shares of the Fort Worth, Texas, company jumped 5% shortly after trading began, despite a losing start for the broader market. “There was certainly some benefit from re-accommodating probably a relatively small amount of Southwest passengers ... but overall the was just broad-based strength across the quarter,” Chief Financial Officer Devon May said in an interview.
Airlines have benefited from strong demand for travel and a limited number of flights and seats, in part because of a pilot shortage coming out of the worst of the pandemic. The result has been higher fares.
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