American Airlines Now Sees Q3 Revenue To Decline About 25% From Q3 Of FY19 - Quick Facts

(RTTNews) - Providing an update on recent performance, American Airlines (AAL) said Tuesday that it expects to report a net profit in the third quarter, while expecting an adjusted net loss, excluding the effect of net special items, between $620 million and $675 million.

Further, the Company expects its third quarter total revenue to be down approximately 25% versus the third quarter of 2019, which is on the better end of the Company's previous guidance of down 24% to 28%.

The Company expects its third quarter CASM to be up between 10% and 11% compared to the third quarter of 2019 versus its previous guidance of up between 8% and 12%, mainly due to lower capacity.

During the summer, the Company executed on the largest and fastest operational ramp-up in its history as a response to recovering demand. It also took several corrective actions and saw continuous improvement through the quarter.

Operationally, the Company recorded its best September in its history since the merger as defined by completion factor (99%), on-time departures (76.6%), and on time arrivals (86.2%). The Company expects this trend to continue in October.