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American Airlines has narrowed the fall in its Q4 revenue forecast than previously expected. American Airlines said that it expects revenues to be down 17% vs. pre-pandemic levels, compared with its prior forecast of a 20% fall. However, American expects cost per available seat mile excluding items (industry metric) to be up 13-14% vs. 2019, as compared to its previous guidance of a rise of between 8-10%. Its costs are also expected to be higher after a writedown of excess spare parts inventory. Raymond James Equity Research analyst Savanthi Syth said in a note, “The impact from capacity cuts were somewhat greater than we had anticipated”.

American Airlines’ bonds were slightly higher with its 3.75% 2025s up 1.1 points to 95.33, yielding 5.39%.

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