American Airlines (AAL) topped third quarter estimates on its top and bottom lines, pushing the stock higher in Thursday's pre-market session.

Southwest Airlines (LUV) is also reporting a third quarter beat, where profits fell 65% year-over-year; adjusted earnings of $0.15 per share beat Wall Street estimates. The airline operator has struck a deal with activist investor Elliott Management, adding six new members to its board in order to avoid a proxy battle.

Madison Mills and Seana Smith report on the latest earnings figures from both of these major airlines.

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This post was written by Luke Carberry Mogan.