American Airlines Group Inc (NASDAQ:AAL) shares are trading higher Tuesday after the company updated first-quarter guidance and highlighted its improved outlook.
American Airlines originally guided for a 20% to 22% decline in revenue during the first quarter, compared to the first quarter of 2019. The company said it now expects a decline of just 17%, compared to the first quarter of 2019.
All indicators are pointing to bullish air travel demand, while barriers to air travel are declining, according to American Airlines.
American said labor dynamics are much improved and the company is well positioned moving forward after implementing $1.3 billion in permanent cost reductions during 2021.
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AAL 52-Week Range: $12.44 - $26.09
American Airlines shares are up 9.65% at $15.63 at time of publication.
Photo: courtesy of American Airlines.
