Positive news from the US-made airline sector: the reopening of post-lockdown economies from Covid and the desire to finally return to travel were confirmed by the quarterly reports communicated by American Airlines and United Airlines.
Optimism especially from American Airlines which, in disclosing the numbers of its quarterly, also announced that it expects to return to profit for the second quarter of 2022, thanks to the resumption of airline ticket bookings, which should be able to cover the boom in fuel costs.
The number one airline in the United States also announced that March was the first month since the start of the Covid-19 pandemic, in which revenue surpassed 2019 levels.
Looking at the numbers for the first quarter of 2022, American Airlines reported a net loss of $ 1.6 billion. On an adjusted basis, the loss per share was $ 2.32, lower than the consensus’ red of $ 2.40 per share. Revenue did well, which nearly more than doubled to $ 8.9 billion, doing slightly better than the $ 8.826 billion analysts expected. However, the turnover remained at a lower level of 16% compared to the first quarter of 2019, preceding the pandemic (which officially broke out worldwide in March 2020).
For the second quarter, American Airlines estimates revenue growth of 8% higher than the turnover earned in the first quarter of 2019. The Texas-based aera company announced that it paid in the first quarter of 2022 $ 2.80 per gallon of fuel: a 65% higher price than last year. American Arlines shares jumped nearly + 8% on Wall Street.
Also charged with buy on the title of the competitor United Airlines, which advances despite a disappointing quarterly report.
The airline lost $ 4.24 per share, suffering a higher-than-red loss of $ 4.19 per share estimated by Zacks’ consensus, and reporting a negative balance for the ninth consecutive quarter.
The results took into account the leap in Covid infections caused by the rapid spread of the Omicron variant in the first half of the first quarter.
Revenue of $ 7.566 billion also fell short of estimates.
However, United has announced that it expects to return to profit by 2022, for the first time since the pandemic, thanks to the increase in bookings and the greater propensity of passengers to pay more to return to fly. United Airlines quotations jumped about 11%.