Southwest Airlines (LUV) reported third-quarter earnings of $1.18 per share Thursday, which beat the analyst consensus estimate of $1.08 by 9.26%.

This is a 9.26% increase over earnings of $1.08 per share from the same period last year.

The company reported quarterly sales of $5.639 billion, which missed the analyst consensus estimate of $5.64 billion by 0.02%. This is a 1.15% increase over sales of $5.575 billion in the same period last year.

"Our third-quarter 2019 record financial performance was notable considering an estimated $210-million reduction in operating income due to the continued grounding of the Boeing 737 MAX 8 aircraft (MAX),” CEO Gary Kelly said in a statement. 

“Notwithstanding this challenge, we generated record third-quarter operating and unit revenues; solid margins; strong cash flows and returns to Shareholders; and a healthy profit-sharing accrual for our employees." 

Southwest Airlines shares were trading up 1.97% at $54.29 at the time of publication in Thursday's premarket session. 

American Airlines Group Reports Mixed Q3 Earnings

American Airlines Group (AAL) reported third-quarter earnings of $1.42 per share Thursday, which beat the analyst consensus estimate of $1.4 by 1.43%. This is a 25.66% increase over earnings of $1.13 per share from the same period last year.

The company reported quarterly sales of $11.911 billion, which missed the analyst consensus estimate of $11.95 billion by 0.33%. This is a 3.05% increase over sales of $11.55 billion in the same period last year.

"We are pleased to report an earnings increase of 15% and earnings per share growth of 20% for the third quarter, excluding net special items," CEO Doug Parker said in a statement. 

"However, we know that our results should have been better. Our third-quarter was impacted by the continued grounding of the Boeing 737 MAX and the operational challenges resulting from ongoing labor contract negotiations. These challenges affected our customers, our shareholders and our team members, who we thank for their hard work and perseverance," adds Parker.

American Airlines shares were trading 5.09% higher at $29.73 at the time of publication.