American Airlines' revenue in the first quarter was $8.9 billion, equivalent to 84 percent of revenue in the first quarter of 2019.
Revenue was expected to be $8.8 billion, according to S&P Global Market Intelligence. Adjusted earnings per share were minus $2.32, compared to expectations of minus $2.41.
The company describes demand as very strong and therefore expects to return to profitability in the second quarter, based on the current forecast for fuel prices.
Based on current trends, capacity in the second quarter is expected to be between 92-94 percent of the corresponding quarter in 2019 and sales are estimated to be 6-8 percent higher than during the same period.
”The recovery for domestic business travel has steadily improved as offices have reopened and travel restrictions have been lifted,” the company writes.
Demand for international travel has also increased "significantly" as travel restrictions have disappeared.
American Airlines shares surge 10 percent in pre-market trading.
