American Airlines Group (NASDAQ:AAL) tracks higher after posting a guidance update.
The airline company sees Q3 revenue per available seat mile growth of 2% to 3% vs. a prior range of +1% to +3%. The guidance includes factoring in the impact from Hurricane Florence.
On the cost side, American expects an average fuel cost of $2.28 to $2.33 per gallon during the quarter vs. $2.22 to $2.27 prior outlook.
American liquidity update: "As of September 30, 2018, the company had approximately $4 billion in total available liquidity, comprised of unrestricted cash and investments of $4.9 billion and $2.5 billion in undrawn revolver capacity. The company also had a restricted cash position of $154 million."
Shares of AAL are up 1.11% in premarket trading to $36.30.
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