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American reported net income of $1.7 billion in the quarter, up
80 percent from a year ago as the price of oil has plummeted. It
earned $1.9 billion, excluding charges, or $2.77 per diluted
share. On that basis, the average analyst estimate was $2.72 per
share, according to Thomson Reuters I/B/E/S.
Shares rose 4.2 percent to $47.92 in premarket trading.
American also said it would buy back another $2 billion of its
stock.
The earnings report comes about a week after it finished
transferring thousands of customer reservations from the
computer platform of subsidiary US Airways to the one used by
American.
On Friday, the company said the reservations "cutover" was
successful, reporting "no operational impact" in a process that
had led to widespread delays at rival United Continental
Holdings Inc <UAL.N>.
American and US Airways merged in 2013. On Oct. 17, the US
Airways website and brand disappeared, with all the company's
flights now operating as American Airlines.
The company said it will start another stock repurchase program
to be completed by the end of 2016, with American authorizing a
total of $6 billion in buybacks this year.
Sterne Agee CRT analyst Adam Hackel said he expects the "very
positive" buyback announcements to continue into 2016.
(Reporting by Jeffrey Dastin in New York; Editing by Bernadette
Baum and Jeffrey Benkoe)
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