July 20, 2023
Fort Worth, Texas – American Airlines Group Inc. reported a $1.3 billion profit in the second quarter, up from a loss of $2.4 billion in the same period last year. The company’s revenue rose 87% to $13.8 billion, as travel demand continued to recover from the COVID-19 pandemic.
American Airlines CEO Robert Isom said the company is “on track to return to profitability in 2023.” He added that the company is “confident in the strength of our business and our ability to deliver long-term value to our shareholders.”
American Airlines’ results were helped by a surge in demand for air travel. The company’s passenger traffic rose 100% in the second quarter compared to the same period last year. American Airlines also benefited from higher fares. The average fare paid by its passengers rose 20% in the second quarter.
American Airlines’ results were in line with the expectations of analysts. The company’s stock price rose 3% in after-hours trading.
About American Airlines
American Airlines Group Inc. is a major American airline holding company. It is the world’s largest airline by fleet size and number of passengers carried. American Airlines operates a fleet of over 900 aircraft and serves more than 350 destinations in the United States, Canada, Mexico, the Caribbean, Latin America, Europe, and Asia. The company is headquartered in Fort Worth, Texas.