Why American Airlines (AAL) Stock Is Up Today
NEW YORK (TheStreet) -- American Airlines
In its quarterly results Delta announced that revenue grew 4.9% to $8.92 billion, in-line with analyst expectations. The airline reported earnings of 33 cents a share, 4 cents higher than analysts surveyed by Thomson Reuters expected.
Boeing reported earnings of $1.76 a share, beating estimates of $1.56 a share. Revenue for the airplane manufacturer rose 8% to $20.47 billion.
The two positive results helped boost American Airlines stock.
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"American Airlines Group Inc., formerly AMR Corporation, operates in the airline industry. The Company's principal subsidiary is American Airlines, Inc. (American). As of December 31, 2011, American provided scheduled jet service to approximately 160 destinations throughout North America, the Caribbean, Latin America, Europe and Asia. AMR Eagle Holding Corporation (AMR Eagle), a wholly owned subsidiary of the Company, owns two regional airlines, which do business as American Eagle-American Eagle Airlines, Inc. and Executive Airlines, Inc. (collectively, the American Eagle carriers). American also contracts with an independently owned regional airline, which does business as AmericanConnection (the AmericanConnection carrier). As of December 31, 2011, AMR Eagle operated approximately 1,500 daily departures, offering scheduled passenger service to over 175 destinations in North America, Mexico and the Caribbean."