American Airlines expects smaller than expected adjusted loss for Q3

In a statement American Airlines said, it expects a smaller-than-expected adjusted loss for the third quarter and improved performance for the remaining part of this financial year following increased holiday demand midst lifting of travel bans.

While earlier U.S. carriers had tempered their outlooks for the September quarter with the Delta variant of COVID-19 slowing down new bookings, the recent fall in COVID-19 cases has raised hopes of increased traveler footfalls.

The Biden administration’s plans on reopening US borders to air travelers from Europe this November. The trans-Atlantic route is one of the most lucrative routes in the world and accounts for up to 17% of 2019 passenger revenues for the big three U.S. carriers

In a statement American Airlines said, it was “planning for a robust peak travel period in the fourth quarter.”

The company expects net loss excluding items to be between $620 million and $675 million in the third quarter.

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