American Airlines (AAL) earnings Q2 2024

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********* Airlines (AAL) earnings Q2 2024

An ********* Airlines Boeing 737 MAX 8 aircraft approaches San Diego International Airport for a landing from Phoenix on June 28, 2024 in San Diego, California. 

Kevin Carter | Getty Images

********* Airlines is forecasting a drop in unit revenue of as much as 4.5% for the third quarter as high demand ******* to make up for an industry-wide glut of flights that have forced airlines to slash fares.

The Fort Worth, Texas-based airline also forecast full-year adjusted earnings of between 70 cents and $1.30 per share, far shy of the $1.10 to $2.60 per share Wall Street analysts were expecting, according to LSEG.

The carrier has been grappling with an industry-wide oversupply of flights and a direct-to-consumer sales strategy it adopted that backfired. It said in an

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that it has “taken swift and aggressive action to reorient its sales and distribution strategy” after complaints from travel agents and customers.

Shares of ********* were down more than 7% in premarket trading.

Here is how ********* performed in the second quarter compared with Wall Street estimates compiled by LSEG:

Earnings per share: $1.09 adjusted vs. $1.05 expectedRevenue: $14.33 billion vs. $14.36 billion expected

Southwest’s profit fell 46% during the second quarter to $717 million, or $1.01 per share, even though revenues rose 2% to $14.33 billion.

Adjusting for one-time items, the airline reported earnings of $1.09 per share.

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#********* #Airlines #AAL #earnings

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