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American Airlines earns $476 million on record revenue in 2Q

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DALLAS (AP) — American Airlines earned $476 million in the second quarter on record revenue from summer travelers and said it expects to remain profitable in the third quarter.

It was American’s first quarterly profit without government pandemic aid in the COVID-19 era.

CEO Robert Isom said Thursday that American is “encouraged by the trends we’re seeing across the business,” and is well-positioned for a continued recovery in travel.

The Fort Worth, Texas, airline said it expects a profitable third quarter, based on travel demand and the forecast for fuel prices. It said revenue will be 10% to 12% higher than the same period in 2019 even as it cuts passenger-carrying capacity by 8% to 10%.

In the second quarter, American’s adjusted profit was 76 cents per share, a penny below the forecast of analysts surveyed by FactSet.

Revenue was $13.42 billion, up 12% from the same period in 2019 despite nearly 9% less flying. Analysts expected $13.33 billion.

Copyright © 2022 The Washington Times, LLC.





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