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American Airlines Group Gains 8%

Shares of American Airlines Group Inc. (AAL) are gaining over 8% on Wednesday morning. The previous day, American Airlines lifted its revenue outlook for the first quarter, as airline industry recovers after the impact from pandemic.

AAL is currently trading at $18.57, up $1.44 or 8.41%, on the Nasdaq. The stock has traded between $12.44 and $26.04 in the past 52-week period.

American Airlines disclosed in a regulatory filing that it expects its first-quarter revenue to be down approximately 16% versus the first quarter of 2019, which is better than the company's recent guidance of down approximately 17%.

The company flew 59.5 billion total available seat miles in the first quarter, down 10.7% versus the first quarter of 2019.

The company expects its first quarter Cost per available seat mile.

Major U.S. airlines are enjoying the strongest travel demand in three years, as travel demand recovers, with some airlines reporting the highest ticket sales in their history.

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