Shares of American Airlines Group Inc. AAL, +1.70% jumped 3.3% in premarket trading Tuesday, after the air carrier raised its third-quarter total and unit revenue growth outlooks. The company said it now expects total revenue to be up approximately 13% from the same period in pre-pandemic 2019, compared with previous guidance of a rise of 10% to 12%. The current FactSet revenue consensus of $13.31 billion implies 11.7% growth. The company also raised its outlook for growth in total revenue per available seat mile (TRASM) to 25% from previous guidance of up 20% to 24%. Cost per available seat mile (CASM) is expected to be up 14%, the top of the previously expected range of up 12% to 14. The company said capacity during the third quarter was 686 billion available seat miles (ASM), down 9.6% from the same period in 2019, with previous guidance of a decline of 8% to 10%. The stock has lost 10.3% over the past three months through Monday, while the U.S. Global Jets ETF JETS, -0.84% has lost 5.9% and the S&P 500 SPX, -0.79% has declined 6.3%.
