Why Shares of American Airlines Are Soaring Today

Why Shares of American Airlines Are Soaring Today

Before markets opened, American said it lost $3.86 per share in the fourth quarter on revenue of $4 billion, besting analyst expectations for a $4.11-per-share loss on revenue of $3.88 billion. Revenue during the quarter was down 64% from a year prior, with the airline burning through about $30 million per day during the period. American and other airlines have been hit hard by the COVID-19 pandemic, which reduced demand for travel.