Investors Head for the Emergency Exit Following American 4Q Guidance Revision; Lowering FVE
We’re lowering our fair value estimate for American Airlines to $41 from $46 after revised fourth-quarter and full-year guidance signaled weak passenger yields in domestic markets. Following Delta’s guidance update, which ignited concerns about poor demand, American did little to allay investor fears with its revised fourth-quarter and full-year unit revenue outlook. Initially, the carrier expected total revenue per seat mile, or TRASM, would increase between 1.5% and 3.5% year over year for the...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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