American Airlines Group (NASDAQ:AAL) posts mixed results for Q2 while issuing an aggressive outlook for the near term. The airline company says it has reshaped its network, simplified the fleet and made the cost structure more efficient in an effort to create an airline that will outperform competitors and deliver for customers.
Looking ahead, American sees Q3 revenue down about 20% from the level seen in 2019 on capacity about 15% to 20% lower. AAL says it will continue to match its forward capacity with observed bookings trends. American also expects its Q3 pre-tax margin excluding net special items to land between -3% and -7%.
During an interview with CNBC, American CEO Doug Parker said he expects business travel to recover and notes the company is lobbying the administration for trans-Atlantic travel.
Clark Schultz seekingalpha.com
