American Airlines Grows Revenue 7%, Modest Profit Slide; Staying Disciplined With Capacity Additions
No-moat American Airlines reported second-quarter results that beat consensus expectations and featured higher revenue but lower profits on a year-over-year basis. Management also confirmed its full-year 2017 guidance for capacity expansion and other key metrics. Qatar Airways still looks set to take an equity stake in American, despite management’s opposition to such a move. Following earnings, we maintain our $47 fair value estimate and view shares as slightly overvalued, trading at a price to...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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