Why Shares of American Airlines Are Soaring Today

Lou Whiteman, The Motley Fool
·3 min read
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.