Transportation
American Air Sees Return to Profit on Summer Travel Demand
- Carrier has been shifting focus to Sun Belt hubs in the US
- Loss in prior quarter was wider than analysts’ estimates
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American Airlines Group Inc. expects a return to profit heading into the busy summer travel season after bad weather and delays linked to air traffic congestion weighed on the carrier’s early-year results.
Adjusted earnings will be $1.15 to $1.45 a share in the second quarter, American said in a statement Thursday as it reported a loss for the first three months. The midpoint is above the $1.16 average of analyst estimates compiled by Bloomberg.