American Airlines posts profit vs year-ago loss as travel demand improves

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An American Airways Boeing 777-300ER airplane takes off from Sydney Airport in Sydney, Australia, October 28, 2020. REUTERS/Loren Elliott

Oct 21 (Reuters) – American Airways Group Inc reported a quarterly revenue in comparison with a year-ago loss on Thursday, as easing COVID-19 curbs strengthened journey demand forward of the height vacation season.

As the USA opens its borders to vaccinated international vacationers on Nov. 8, U.S. carriers predict a powerful vacation season after the well being disaster despatched journey demand plummeting in 2020.

“Whereas the rise of the COVID-19 delta variant delayed a few of our income restoration, it has not stopped our progress,” Chief Government Officer Doug Parker mentioned.

The No.1 U.S. airline reported a web revenue of $169 million, or 25 cents per share, within the third quarter ended Sept. 30, in contrast with a lack of $2.40 billion, or $4.71 per share, a yr earlier.

Excluding objects, the corporate posted a third-quarter web lack of $641 million, or 99 cents per share.

Whole working income jumped 183% to $8.97 billion.

The airline ended the quarter with about $18 billion of complete obtainable liquidity.

Reporting by Sanjana Shivdas in Bengaluru;
Enhancing by Vinay Dwivedi


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