Why American Airlines Earnings Have Cramer So Worried

Jim Cramer breaks down what we should expect from the airlines when they report earnings next week.
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We're going to hear from more airlines next week. 

Earlier this week, we heard from Delta. 

Back on Tuesday, Delta posted a wider-than-expected second-quarter loss as the coronavirus pandemic and shutdown of most non-essential travel pummeled the airline industry.

CEO Ed Bastian also said that the rebound from April’s outright plunge in domestic flying had stalled, and that Delta will halve the number of extra flights it adds in August to 500.

The Atlanta-based carrier posted an adjusted loss of $3.86 billion, or $4.43 a share, vs. income of just under $2 billion, or $2.35 a share, in the year-ago quarter. Analysts polled by FactSet had been expecting a loss of $4.22 a share.

Operating revenue rang in at $1.18 billion, down 91% from a year ago. Total revenue for the quarter was $1.47 billion, slightly ahead of analysts' forecasts. Delta had $15.7 billion in liquidity as of the end of June.

So, what should we expect to hear from the other big airlines?

Jim Cramer weighs in.

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