Key points:
- American Airlines anticipates paying $2.80-$2.90 per gallon for jet fuel
- Adjusted loss per share expected at lower end of guidance
American Airlines Group has updated its financial guidance for the first quarter of 2024 due to a rise in fuel prices. The company now anticipates paying an average of between $2.80 and $2.90 per gallon for jet fuel in the first quarter. This is an increase from its previous forecast of $2.65 to $2.85 per gallon.
As a consequence of the increased fuel costs, the airline expects its adjusted loss per share to be at the lower end of its guidance range. The company had initially predicted an adjusted loss per share between 15 cents and 35 cents.
Despite the revised expectations for the first quarter, the company maintains its full-year 2024 guidance.
