American Airlines hikes revenue estimates after strong fourth quarter

Planes are seen at Charlotte Douglas International Airport on December 28, 2022 in Charlotte, United States.

Peter Zay | Anadolu Agency | Getty Images

American Airlines hiked its revenue estimates for the fourth quarter on Thursday thanks to strong demand and high fares.

The airline estimates revenue rose as much as 17% over 2019, up from a previous forecast of an 11% to 13% increase over the period three years earlier, before the pandemic.

American said revenue per seat mile likely rose 24% in the quarter from 2019, above its prior forecast of 18% to 20%.

Its shares were up more than 3% in premarket trading.

American is scheduled to report quarterly results before the market opens Jan. 26.

This is breaking news. Check back for updates.

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