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Why American Airlines Shares Are Trading Lower

American Airlines Group Inc (NASDAQ: AAL) shares are trading lower by 3.85% to $16.10 during Tuesday's session. Shares of airline stocks are trading lower in sympathy with JetBlue, which fell after
byHenry Khederian
August 1, 2023
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American Airlines Group Inc (NASDAQ:AAL) shares are trading lower by 3.85% to $16.10 during Tuesday’s session. Shares of airline stocks are trading lower in sympathy with JetBlue, which fell after issuing weak guidance.

What Happened With JetBlue Earnings?

JetBlue’s second-quarter FY23 results showed a 6.7% year-on-year growth in operating revenue, reaching $2.61 billion, aligning with the consensus estimate. The company reported an adjusted EPS of $0.45, surpassing the consensus figure of $0.40.

JetBlue said operating expenses declined by 7.2% year-over-year, amounting to $2.38 billion.

The company reported a substantial improvement in operating income, achieving $235 million in the quarter compared to an operating loss of $113 million during the same period last year. This translated to an operating margin of 9%…Read More

According to data from Benzinga Pro, AAL has a 52-week high of $19.08 and a 52-week low of $11.65.

 
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