American reports revenue at $3.2B, down 73% YoY in Q3

Thursday, 22. October 2020 13:52

American Airlines Inc. posted on Thursday its third-quarter revenue at $3.2 billion, down 73% year-over-year. Net loss was reported at $2.4 billion, while the net loss per share was $4.71.

The company noted that both passenger demand and load factors remain "significantly below 2019 levels." The airline stated that its fourth-quarter system capacity is expected to be more than 50% lower year over year, with long-haul international capacity down approximately 75% compared to the same quarter last year.

"During the third quarter, we took action to reduce our costs, strengthen our financial position, and ensure our customers return to travel with confidence," said American Airlines Chairman and CEO Doug Parker. "We have a long road ahead and our team remains fully engaged and focused not just on managing through the pandemic, but on making sure we are prepared for when demand returns. We are confident that the continued efforts of our team and the actions we have taken will drive customer confidence and strengthen our company for the future."

Related Links: American Airlines Group Inc.
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Breaking the News / DJ