U.S. airlines’ earnings brightened by uptick in business travel

American Airlines Group Inc. and Southwest Airlines Co. on Thursday reported better quarterly results than investors had expected, rounding up earnings season for major U.S. airlines with an uptick in domestic business travel.

Earlier Thursday, American
AAL,
-1.33%
reported a narrower-than-expected loss and Southwest
LUV,
-3.00%
reported a better-than-expected GAAP profit, albeit on the back of payroll assistance, for their second quarters.

Before that, United Airlines Holdings Inc.
UAL,

also reported a narrower quarterly loss earlier in the week, and Delta Air Lines Inc.
DAL,
-0.91%
showed an unexpected quarterly profit last week.

The stocks traded lower on Thursday, however, tracking the broader equity market after an unexpected rise in jobless claims and lingering concerns about the pandemic and the coronavirus…

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