American Airlines posted strong financial health in the fourth quarter of 2022, benefiting from the return of sustained demand for air travel in the United States and around the world.
The airline posted revenue of $13.2 billion in the last three months of 2022, 16.6% more than in 2019, the reference year before disruptions related to the Covid-19 pandemic.
American Airlines also posted its third consecutive quarterly net profit, generating $803 million in the quarter, allowing it to post results in the green for the full year (+$127 million).
Little affected by the wave of extreme cold in December
Per share and adjusted for exceptional items, earnings for the quarter were $1.17, 3 cents better than market expectations.
These satisfactory results were achieved despite a 6.1% reduction in the number of seats offered compared to 2019.
The company also claimed not to have suffered financially from the unrest caused by an extreme cold snap in the United States during the year-end holidays and even achieved its best performance during this period.
This episode had especially affected Southwest, which indicated on Thursday that it had lost 220 million dollars in the fourth quarter after the cancellation of more than 16,700 flights at the end of December.
By 2023, American Airlines expects annual earnings per share of $2.50 to $3.50, above analysts’ median forecast of $1.77.
On Wall Street, American Airlines stock was up about 2% in electronic trading before the open of the Stock Market.
Source: BFM TV
