American Airlines has raised its earnings outlook for 2023 due to a strong start to the peak travel season and the ongoing high demand for air travel. The airline now expects to earn between $3 and $3.75 per share for the year, from a previous forecast of $2.50 to $3.50. This revised profit guidance aligns with Wall Street estimates of $3.10 per share. The airline is benefiting from increased travel demand, especially for international trips, and some airfares have decreased compared to last year when the industry was severely impacted by the Covid pandemic. In the second quarter, American Airlines reported net income of $1.34 billion, or $1.88 per share, surpassing Wall Street's expectations. The company's total revenue of $14.06 billion was up 4.7% from the same period a year earlier, and flying capacity increased by 5.3% year-on-year. American Airlines' positive outlook reflects the industry's recovery and optimism about future growth.
