American Airlines Group Inc. (AAL) said it flew 48 million passengers during the third-quarter, more than any other U.S. airline. Excluding special items, the company recorded its smallest loss since pandemic began. The company noted that its recovery took a pause in the third quarter due to the delta variant of COVID-19. However, total revenue increased 20% sequentially on 12% increase in capacity.
Looking forward, the company said it will continue to match forward capacity with observed bookings trends. Based on current trends, American Airlines expects fourth-quarter capacity to be down approximately 11% to 13% compared to the fourth quarter of 2019. Fourth-quarter total revenue is projected to be down approximately 20% compared to the fourth quarter of 2019.
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