American Airlines Updates Guidance; We Maintain Our $44 Fair Value Estimate
American shares traded off after the carrier issued revised guidance for its third quarter. We don’t expect to update our $44 fair value estimate, and with our very high uncertainty rating, shares remain fairly valued. Management rolled back capacity expansion for the coming quarter, lowering available seat miles from 75.5 billion to 75 billion, still higher than the year-ago period by nearly 3%. American also raised projections for other revenue, which includes loyalty program revenue and contr...American Airlines Group is a holding company. Through its subsidiaries, the company's business activity is the operation of a primary network carrier, providing scheduled air transportation for passengers and cargo. The company's regional carriers provide scheduled air transportation under American Eagle. The American Eagle carriers include the company's regional carriers Envoy Aviation Group Inc., PSA Airlines, Inc. and Piedmont Airlines, Inc., as well as third-party regional carriers including Republic Airline Inc., Mesa Airlines, Inc., SkyWest Airlines, Inc. and Compass Airlines, LLC. The company's cargo division provides freight and mail services, with facilities and interline connections available across the globe.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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