American Airlines nasdaq Aal Stock Jumps 7 Whats Driving the Momentum

American Airlines (NASDAQ: AAL) Stock Jumps 7% – What’s Driving the Momentum?

American Airlines (NASDAQ: AAL) stock surged 7% in intraday trading Wednesday in sympathy with United Airlines (NASDAQ: UAL), which reported better-than-expected Q1 earnings.

United Airlines (UAL) recently released its first-quarter financial results, beating revenue expectations and reporting a narrower loss than anticipated by analysts. The company posted quarterly revenue of $12.53B, surpassing the consensus estimate of $12.40B. The report also revealed an adjusted loss of 15 cents per share, outperforming analyst estimates for a loss of 57 cents per share.

In terms of operational metrics, United saw a 9.1% year-over-year increase in capacity. Total revenue per available seat mile (TRASM) experienced a modest uptick of 0.6%, while the cost per available seat mile (CASM) decreased by 0.6%.

United Airlines has reaffirmed its full-year 2024 adjusted earnings outlook, maintaining expectations of $9 to $11 per share. This guidance compares favorably to analyst estimates of $9.67 per share. However, the company adjusted its aircraft delivery expectations for 2024, anticipating the delivery of 61 narrowbody aircraft and 5 widebody aircraft. This adjustment comes in response to the 737 Max grounding and production capacity constraints.

American Airlines (AAL) plans to report its first-quarter financial results before the market opens on April 25. Analysts anticipate a loss of 29 cents per share and revenue of $12.602B for the quarter.

American Airlines (NASDAQ: AAL) Stock Price Action

At the time of publication, AAL stock has traded at $13.89, marking a 6.60% increase compared to the previous trading session. Traders have exchanged 52,313,302 (52.31 million) shares, surpassing the average daily trading volume of 32.44 million.