Wednesday, January 19, 2022
63.4 F
Fort Worth

American Airlines shares hit 2-year low on investor update

🕐 1 min read

FORT WORTH, Texas (AP) — Shares of American Airlines are sinking to their lowest level in more than two years as the carrier warns about rising fuel prices and lost revenue from Hurricane Florence.

The shares fell $1.90, or 5.3 percent, to $34 in Tuesday afternoon trading.

American says it canceled 2,100 flights during Florence, costing it $55 million in revenue and $50 million in pretax income.

Aside from the storm, American says revenue for every seat flown one mile rose between 2 percent and 3 percent in the third quarter, a sign that fares and fees are rising.

But American also says it paid $2.28 to $2.33 a gallon for fuel in the quarter, six cents more than it expected in July. Fuel prices have jumped more than one-third in the past year.

Related Articles

Our Digital Sponsors

Latest Articles

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.