American Airlines Share Surge

Shares of American Airlines Group (NASDAQ:AAL) surged more than 7% before the opening bell on Thursday after the carrier raised its adjusted profit guidance for the current quarter, banking on better pricing power against strong demand in travel.

The airline now projects adjusted earnings per share in the fourth quarter to be between 55 cents and 75 cents, much higher than its previously issued range of 25 cents to 50 cents.

Additionally, it expects fourth quarter total revenue per available seat mile (TRASM) to be about flat to up 1% compared to the same period in 2023. Meanwhile, the adjusted cost per available seat mile (CASM) is expected to be between 5% and 6% against a prior guide of 4%-6%.