American Airlines just slashed its full-year earnings forecast to near zero, despite smashing a quarterly revenue record—thanks to a brutal 83% jump in fuel costs that hit profits hard. Yet, stocks surged 7% after the report, as investors cheered strong demand and the airline’s ability to offset half the fuel spike with higher fares. Still, a third-quarter loss looms, forcing a miracle fourth quarter to meet the new target. The airline’s rollercoaster ride underscores how volatile profits can be when fuel prices swing—and some investors are now eyeing safer bets in the travel sector.
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