US airlines expected to report USD2.1bn-2.4bn in net income for 3Q2010; US Airways up
US Airways (+4.3%) made the highest gain of the day after Thomson Reuters reported analysts on average expect the carrier to report a profit of USD1.16 per share on USD3.2 billion in revenue. The carrier also expects profits for the full year.
The carrier reported a net loss of USD0.60 per share or USD80 million in 3Q2009, on USD2.7 billion in revenue.
American Airlines (+1.9%) was also up ahead of reporting its 3Q2010 financial results on 20-Oct-2010. According to Thomson Reuters, analysts on average expect the carrier to report an adjusted profit of USD0.32 per share or USD106 million, on USD5.8 billion in revenue.
The carrier reported a net loss of USD359 million for 3Q2009. This was the result of big charges to write down values of aircraft that had been sold or put in storage.
Deutsche Bank AG and CRT Capital Group LLC expect the US’ eight largest airlines to report 3Q2010 combined net income of USD2.1 billion-2.4 billion, according to Bloomberg. The expected improved results are due to high load factors, allowing the airlines to charge increased fares. A return in business demand is also boosting airline revenues, as noted by American Airlines CEO Grerard Aprey earlier this month.
Elsewhere, Latin American airlines led the decliners for the session, as the Brazilian Bovespa (-0.1%) slipped. However, Chile’s IPSA (+0.3%) made a marginal gain for the day.
North & South America selected airlines daily share price movements (% change): 18-Oct-2010