American Loss Exceeds Estimates
The carrier said it lost $286 million, or 85 cents a share. Analysts surveyed by Thomson Reuters had estimated a loss of 75 cents. Revenue rose 7.8% to $6.1 billion, in line with estimates.
In the same quarter a year earlier, American lost $11 million, or three cents a share.
Fuel costs, including the impact of hedging, rose 31% from a year earlier, the carrier said, adding $524 million to its costs.American, the first major airline to report second-quarter earnings, is expected to be the only one to lose money. Peers Delta (DAL) and United (UAL) are expected to report profits, with United scheduled to report on Thursday and Delta scheduled to report on July 27. In the long term, the
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