7/102 sources · 2 publishersUpdated Nov 9, 17:02 UTC
American Airlines shares rise as crude oil prices fall
American Airlines shares rose as crude oil prices declined after remarks that further strikes on Iran were unlikely. The stock was up 4.5% in pre-market trading at $13.77 and later gained 6.8%, while the company’s Q3 revenue was $16.34 billion and its adjusted loss was $0.28 per share. American was also scheduled to hold a virtual investor meeting with Benchmark at 1 pm.
Why it matters
Lower crude prices mechanically reduce fuel-cost pressure for American Airlines and other carriers. The company’s Q3 fuel expense had risen 67.5% to $4.6 billion, so energy prices remain a significant operating variable.
Key facts
- 1American Airlines shares rose 4.5% in pre-market trading to $13.77. investing.com
- 2The shares later gained 6.8% after crude oil prices fell 3%. tradingview.com
- 3American Airlines reported Q3 revenue of $16.34 billion and an adjusted loss of $0.28 per share. investing.com
- 4Q3 fuel expense increased 67.5% to $4.6 billion. tradingview.com
- 5American Airlines expects a fourth-quarter adjusted loss of 50 cents to $1.10 a share. tradingview.com
- 6Management was scheduled to hold a virtual investor meeting with Benchmark at 1 pm. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.