Market Updates
American Airlines Reports Record Revenues and Emphasizes Debt Repayment
Scott Peters
21 Jul, 2022
New York City
American Airlines Group reported its first quarterly profit since the start of the pandemic.
The airline reported record second quarter revenue of $13.4 billion, a 12.2% increase over the same period in 2019 on 8.5% less capacity.
With the return of travel, American Airlines flew 53.07 million passengers in the second quarter, an increase of 20.6% from 44.02% a year ago.
Second quarter net income jumped to $476 million or $0.68 per diluted share compared to $19 million or 3 cents a year ago.
The average load factor in the quarter was 10 points higher from a year ago to 87% and domestic leisure travel surpassed the 2019's levels in the same period.
The airline is also witnessing improvement in business and government travel and a sustained pick up in international travel.
American Airlines Group declined 7.8% to $14.02 after the company reported its first quarterly results.
In the quarter, passenger load factor increased to 86.9% from 77.0% and passenger revenue per available seat mile increased to 18.47 cents from 12.0 cents a year ago.
Guidance & Outlook
American expects its third-quarter total revenue to be 10% to 12% higher compared to the similar period in 2019 on 8% to 10% lower capacity.
The company also estimated it to be profitable in the third quarter based on the current demand trends and fuel price forecast.
CEO Robert Isom said that the airline is likely to operate between 90% and 92% of its 2019 capacity in the third quarter.
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