American Airlines reported a record quarterly loss on Thursday and faces tough months as new travel restrictions and slow adoption of vaccines in the cloud hope for a near-term rebound

American posted a net loss of $ 2.2 billion in the fourth quarter. Revenue fell more than 64% to $ 4.03 billion from $ 11.3 billion a year earlier. Revenue was higher than analysts’ forecast of $ 388 billion for the quarter Stocks are up 30% in premarket trading amid frenzied retail buying of stocks with large short rates Americans have much more short interest in their stocks than other U.S. Carrier

The airline expects capacity to decrease 45% in the first quarter of 2021 compared to 2019, before the coronavirus pandemic weighed on demand for travel for the first quarter, revenue is expected to be 60% to 65% year-over-year Previous months 2019 expected

Here’s how American did in the fourth quarter compared to Wall Street’s expectations, based on average estimates compiled by Refinitiv:

Earlier Thursday, Southwest Airlines reported its first annual loss since 1972 and said capacity would remain conservative through March as demand was weak

Southwest expects an average cash burn of around US $ 17 million per day in the first quarter, “which is due to continued weak demand and a seasonally weaker travel period in January and February 2021, as well as rising fuel prices.” This is more than the $ 12 million a day for the last three months of 2020

Sales are forecast to decrease 65% to 70% in January compared to 2019, slightly better than a 75% decrease previously forecast after cancellations stabilized, according to Southwest, revenue will in February compared to the same month last year 2019 are expected to decrease by 65% ​​to 75%

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World News – US – Americans, Southwest post record losses annually as rebound remains elusive