American Airlines expects to book a pretax profit for Q2

FORT WORTH, Texas (AP) — American Airlines says it will earn a pretax profit for the second quarter, and its stock is soaring. Shares of American Airlines rose 10% in early afternoon trading Tuesday. The big airline said it expects to report a pretax profit of $585 million for the May-June quarter, and revenue will be 12% higher than in the same quarter of 2019. Airlines are seeing higher revenue as travel rebounds more quickly than expected from the worst of the pandemic. But they also face rising fuel costs, which are even higher than American had expected. The Texas-based airline is scheduled to report second-quarter results on July 21.