AAL 需求强劲——第三季度营收163.4亿美元超出预期，第四季度营收预计增长19.5%-22.5%——但燃油成本压过了这一利好：第三季度燃油支出跃升68%至46亿美元；第四季度燃油价格接近每加仑4.70美元，为一年前的两倍，使燃油账单增加28亿美元。第四季度指引为亏损0.50至1.10美元，亏损幅度超出预期。
逐段跳播
今天我们要聊的是美国航空。燃油价格持续成为航空公司的逆风因素。从数据来看，没有哪家公司受到的影响比美国航空更大。该公司已经录得亏损。
Today, we're talking about American Airlines. fuel prices continue to be a headwind for airlines. No company appears to be more affected than American Airlines when looking at its figures . The company has already recorded a loss.
亏损情况好于预期，但公司预计燃油价格将持续高企，因此燃油成本会更高。自年初以来，该公司股价已经下跌了约20%。这一下跌走势加剧了我们全年看到的下跌趋势。
The loss was better than expected, but it anticipates continued high fuel prices and therefore a higher fuel bill. The company's shares have already fallen by about 20% since the beginning of the year.
This move downward intensifies the downward trend we have seen throughout the year.
其报告的调整后亏损为每股28美分。华尔街此前的预期是每股亏损35美分。
The loss it reported was 28 cents per share on an adjusted basis. Expectations on Wall Street had pointed to a loss of 35 cents per share.
营收达到163.4亿，略高于预期，因为出行需求依然强劲。高价格继续支撑营收，但燃油价格上涨过快，无法将其转化为利润，也无法止住资产负债表的失血。
Revenues reached 16.34 billion, which is slightly above expectations as demand for travel remains strong. High prices continue to support revenues, but fuel prices are rising too rapidly to translate that into profits or stem the bleeding of the balance sheet.
正如我提到的，主要的压力点在于第三季度燃油费用跃升68%，达到46亿。他们平均每加仑支付3.85美元。对于第四季度，他们预计每加仑支付约4.70美元。这大约是公司一年前支付水平的两倍。
在这一水平下，他们预计燃油账单将比上年增加28亿。所以，价格上涨有帮助，但不足以恢复盈利。
The major point of pressure, as I mentioned, is the jump in fuel expenses in the third quarter by 68% to reach 4.6 billion. They pay an average of $3.85 per gallon. For the fourth quarter , they expect to pay around $4.70 per gallon.
This represents roughly double what the company was paying a year ago. At this level, they expect the fuel bill to increase by 2.8 billion compared to the previous year. So, the higher prices helped, but they are not enough to restore profitability here.
关于第四季度展望，他们预计营收将增长19.5%至22.5%之间。但他们仍预计会亏损。他们预计调整后亏损在50美分至1.10美元之间。这高于分析师的预期。分析师此前预计每股亏损约52美分。
Regarding the fourth quarter outlook , they expect revenue to rise by between 19.5% and 22.5%. But they still expect a loss. They are expecting an adjusted loss of between 50 cents and $1.10.
This is more than analysts expected. They were expecting a loss of about 52 cents per share.
这是我们四天来第一个下跌日，随着油价上涨触及每桶100美元，情况变得清晰。美国航空明确告诉我们，燃油成本上升正给公司带来实实在在的压力。
This is our first down day in four days, and with oil rising to touch $100 a barrel, the story becomes clear. American Airlines tells us clearly that rising fuel costs are putting real pressure on the company.