American Airlines sees Q3 TRASM up approximately 1.5%-2.5% y/y
Despite the negative impact to revenue of Hurricane Dorian, the company expects its third quarter total revenue per available seat mile to be up approximately 1.5 to 2.5 percent year-over-year. The midpoint of this guidance is unchanged from the company's previous guidance of up approximately 1.0 to 3.0 percent. The company expects its total pre-tax net special items in the third quarter will be approximately $280 million, of which approximately $230 million is non-cash. Special items primarily consist of a $200 million non-cash impairment charge related to the retirement of the company's E190 fleet, as well as fleet restructuring costs, merger integration expenses and mark-to-market adjustments on equity investments, offset in part by the reduction of certain litigation reserves. The company continues to expect its third quarter total cost per available seat mile excluding fuel and special items to be up approximately 4.0 to 6.0 percent1 year-over-year.