(Recasts throughout, compares results with combined AMR Corp
and US Airways a year earlier)
April 24 American Airlines Group, the
world's largest carrier, on Thursday posted a
higher-than-expected quarterly profit as operating expenses fell
Net profit was $480 million, or 65 cents a diluted share,
for the first quarter. That compares with a loss of $297 million
in the year-earlier period for the combined AMR Corp and US
Airways Group, which came together in a merger in late 2013.
Excluding items that included a gain tied to the sale of
takeoff and landing rights at Reagan National Airport in
Washington, which American was required to sell by U.S.
regulators, net profit for the combined company was $402
million, or 54 cents a share. That compared with $62 million in
the first quarter last year.
Analysts had expected a profit of 48 cents a share on
average, according to Thomson Reuters I/B/E/S.
Quarterly revenue was nearly $10 billion. Combined operating
expenses in the quarter were $9.3 billion, down 0.3 percent.
American Airlines Group will be spending the next year or so
melding technology systems and implementing new processes, tasks
that have challenged previous airline mergers and hurt customer
Shares of American Airlines were up 0.8 percent to $37.40 on
(Reporting by Karen Jacobs in Atlanta; Editing by Tom Brown)