LAST UPDATE 15:08
American Airlines upgraded revenue estimates for the second quarter, citing strong demand and the pricing environment.
The airline now expects revenue for the period to increase between 11% -13% compared to pre-pandemic levels, up from a previous estimate of 6% -8% increase.
In recent days, airlines have been enjoying an increase in bookings as countries loosen restrictions on coronavirus, encouraging people to travel after two years of restrictions.
However, the company warned that fuel costs would rise over the period, raising estimates for average fuel costs to $ 3.92-3.97 per gallon, up from a previous estimate of $ 3.59-3.64 per gallon. .
The airline is nevertheless optimistic that higher revenues will offset the increase in costs caused by larger increases in fuel prices.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
