American Airlines rides travel boom to $1.3 billion profit in the second quarter as fuel prices drop

📆 7/20/2023 4:00 PM
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American Airlines is reporting a $1.3 billion profit for the second quarter, continuing the run of strong results from the nation's airlines.

Thanks to lower fuel prices, the carrier's spending at the pump plunged 32%, saving the American about $1.3 billion compared with a year earlier.

“My primary interest is making sure our pilots are taken care of. They deserve these increases, and we can't wait to deliver them to them,” CEO Robert Isom said Thursday on CNBC. American said third-quarter earnings would be 85 cents to 95 cents per share, in line with expectations. The airline now expects to earn between $3 and $3.75 per share for the year, up from a previous forecast of $2.50 to $3.50. Analysts have been projecting $3.12 per share, according to a FactSet survey.

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