American Airlines Q1 revenue up by 122% to $8.9B

Thursday, 21. April 2022 13:03

American Airlines Inc. announced on Thursday that its total operating revenue in the first quarter of the year saw an annual jump of 122% to reach $8.9 billion. Its total operating expenses rose by 99.6% in comparison to the same trimester the year before to $10.62 billion.

On the other hand, the company recorded a net loss of $1.63 billion and an operating loss of $1.72 billion, worsening by 30.8% and 31% year-on-year. Its diluted losses per share increased by 27.92% on an annual level from $1.97 to $2.52 per share.

"Our priorities for this year are clear: Run a reliable operation and return to profitability. [...] The demand environment is very strong, and as a result, we expect to be profitable in the second quarter based on our current fuel price assumptions," American Airlines Chief Executive Officer (CEO) Robert Isom commented.

Following the release of the report, the company's shares surged by 8.62% in premarket trading.

Related Links: American Airlines Group Inc.
Author:
Baha Breaking News (BBN) / JR