Business
American Airlines Reports Third-Quarter 2021 Financial Results
FORT WORTH, Texas, Oct. 21, 2021 (GLOBE NEWSWIRE) -- American Airlines Group Inc. (NASDAQ: AAL) today reported its third-quarter 2021 financial results,
About this update from American Airlines Group, Inc.
[{"type":"text","content":"FORT WORTH, Texas, Oct. 21, 2021 (GLOBE NEWSWIRE) -- American Airlines Group Inc. (NASDAQ: AAL) today reported its third-quarter 2021 financial results, including: Third-quarter net profit of $169 million, or $0.25 per diluted share. Excluding net special items1, third-quarter net loss of $641 million, or ($0.99) per share. Third-quarter revenue of $9.0 billion, up 20% sequentially from the second quarter of 2021.Ended the third quarter with approximately $18 billion of total available liquidity, after prepayment of $950 million spare parts term loan during the quarter.Company continues to expect robust demand during peak travel periods in the fourth quarter, with more than 6,000 peak day departures.Company continues to execute on its plan to pay down approximately $15 billion of debt by the end of 2025. “The American Airlines team continues to demonstrate its resilience and ability to execute, enabling us to deliver our best quarter since the pandemic began as measured by pre-tax financial results,” said American’s Chairman and CEO Doug Parker. “While the rise of the COVID-19 delta variant delayed some of our revenue recovery, it has not stopped our progress. We are incredibly proud of the team’s hard work to operate a great airline, and with the network, cost and fleet simplification actions we have taken, we’re confident American is well-positioned as the recovery takes hold.” American is committed to strengthening its business and returning to profitability by focusing on its three strategic objectives: Create a world-class customer experience, make culture a competitive advantage and build American to thrive forever. To create a world-class customer experience, American: Reopened its industry-leading premium Flagship Lounges at John F. Kennedy International Airport (JFK) and Miami International Airport, with new chefs and creative menus in partnership with the James Beard Foundation.Introduced free access to live sports and news, 24/7, on the airline’s domestic narrowbody aircraft. American has the fastest Wi-Fi on more aircraft than any other carrier.Was recognized by the American Society of Travel Advisors (ASTA) as Airline Partner of the Year for the third year in a row for its work supporting travel advisors. ASTA is the world's largest association of travel professionals and strives to promote excellence within the tra...