American Airlines raises profit forecast thanks to stronger demand and cheaper fuel

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An American Airlines plane takes off from the Miami International Airport on May 02, 2023 in Miami, Florida. 
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American Airlines raised its adjusted earnings outlook for the second quarter thanks to strong travel demand and lower fuel prices.

Adjusted per-share earnings will come in between $1.45 and $1.65, American estimated on Wednesday, up from a previous forecast of $1.20 to $1.40 per share. The Fort Worth, Texas-based airline said it’s now expecting unit revenues in the three months ending June 30 to come in 1% to 3% lower than the same period last year, an improvement from a prior forecast for a decline of as much as 4%.

American’s shares were up about 2% in premarket trading.

American Airlines CEO Robert Isom is scheduled to speak at the Bernstein Strategic Decisions Conference at 4:30 p.m. ET.

He will likely face questions about a new preliminary labor agreement with pilots and whether the carrier will appeal a federal judge’s ruling this month that knocked down American’s partnership in the Northeast with JetBlue Airways.

The airline reports results for the second quarter at the end of July.

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