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American Airlines raises third-quarter revenue forecast

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American Airlines jet parked at LaGuardia International Airport in Latest York. 

Adam Jeffery | CNBC

American Airlines said Tuesday that its third-quarter sales likely got here in higher than it previously expected, sending shares higher on the sign that a powerful summer helped the carrier cover a jump in costs.

American shares were up nearly 6% in premarket trading.

The airline’s revenue within the three months ended Sept. 30 shall be up 13% from the identical period of 2019, when it brought in $11.91 billion, the carrier said. That guidance is a rise from its July forecast for a ten% to 12% increase. American forecast a pretax margin of 4.5%, above an earlier estimate of not more than 4%.

While revenue will likely be above 2019 levels, the carrier said it flew 9.6% lower than three years ago, near the low end of its range — one other demonstration of how passengers are paying more to fly.

American is ready to report quarterly results before the market opens on Oct. 20. Rival Delta Air Lines kicks off the sector’s reporting early Thursday.

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