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American Airlines Tells Pilots of Fuel Shortage, Report Says

American cautioned pilots that there may be fuel delivery delays at some mid-size airports and urged them to conserve fuel, CNBC says.
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American Airlines  (AAL) - Get American Airlines Group, Inc. Report reportedly cautioned pilots Monday that there may be fuel delivery delays at some mid-size airports and urged them to conserve fuel.

The news didn’t seem to hurt American’s stock, which traded at $21.69 up 2.3% at last check, and has jumped 41% in the past six months amid optimism about economic recovery.

American said it and other carriers are suffering fuel supply deficiencies because of shortages of trucks, truck drivers and fuel, CNBC reports.

“American Airlines station jet fuel delivery delays initially affected mostly western U.S. cities, but are now being reported at American stations across the country,” American’s management said in memo viewed by CNBC. “Delivery delays are expected to continue through mid-August.”

Planes with adequate fuel reserves will bring more fuel to airports suffering the fuel shortages, American said.

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“As our country continues to face multiple challenges, let’s work together as a team to operate reliably, safely and as efficiently as possible,” the memo said.

The company didn’t immediately comment to CNBC.

Last week, American posted a narrower-than-expected second-quarter loss, but held off on predicting a return to profit later this year.

American said its adjusted loss for the three months ending in June was pegged at $1.69 per share, well inside the Street consensus forecast of a $1.99 loss and last year's tally of -$7.89 per share.

Group revenues surged 87% from the first quarter, and 361% from last year, to $7.48 billion, American Airlines said, a figure that topped the Street consensus forecast of $7.34 billion.