LONDON (ShareCast) - (Sharecast News) - Shares in American Airlines dropped sharply in pre-market trading on Thursday despite the news of record quarterly and annual sales, as the carrier's outlook for the first quarter disappointed investors.
The airline said that, based on current demand trends, fuel price forecasts and excluding the impact of special items, it expects to report an adjusted loss per share of 20 to 40 cents for the fourth quarter.

Stock futures were down 10.5% at $16.71 by 0741 in New York, with the market having pencilled in a figure closer to a 4 cents loss.

Results for the fourth quarter were ahead of guidance were $590m, up from $19m a year earlier, while sales rose 4.6% to $13.66bn, beating the $13.4bn consensus forecast. Per share, earnings rose to 86 cents, well ahead of the 64 cents estimate.

Full-year sales for 2024 totalled a record $54.2bn, up 2.7% on the year before.

"This revenue performance was driven by the actions the airline took to adjust capacity, combined with continued demand strength," the company said.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE