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 story : American Airlines adjusted loss narrows more than expected, as revenue jumps more than 4-fold #FinanceUSA #StockMarketNEWS American Airlines Group Inc. reported Thursday an adjusted loss that narrowed

@stockMarketNEWS Thu 22 Jul, 2021

Posted in: #FinanceUSA #StockMarketNEWS

American Airlines adjusted loss narrows more than expected, as revenue jumps more than 4-fold #FinanceUSA #StockMarketNEWS
American Airlines Group Inc. reported Thursday an adjusted loss that narrowed more than expected, revenue that more than quadrupled to beat forecasts and daily cash burn turned positive as the post-COVID-19 recovery continues. The stock slipped 0.4% in premarket trading, after soaring 12.8% over the past two days. On a net basis, the air carrier swung to income of million, or 3 cents a share, from a loss of .07 billion, or .82 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss narrowed to .69 from .82, beating the FactSet loss consensus of .03. Total revenue climbed 361% to .48 billion, above the FactSet consensus of .32 billion. Load factor improved to 77.0% from 42.3%, matching expectations, as traffic jumped to 42.02 billion revenue passenger miles from 7.23 billion RPM and capacity grew to 54.56 billion available seat miles from 17.08 billion ASM. The company took in an average of million in cash per day, and ended the second quarter with a record .3 billion of total available liquidity. The stock has run up 35.7% year to date through Wednesday, while the U.S. Global Jets ETF has gained 4.4% and the S&P 500 has advanced 16.0%.


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