American Airlines posts profit vs year-ago loss as travel demand improves
Oct 21 (Reuters) - American Airlines Group Inc (AAL.O) reported a quarterly profit compared to a year-ago loss on Thursday, as easing COVID-19 curbs strengthened travel demand ahead of the peak holiday season.
As the United States opens its borders to vaccinated foreign travelers on Nov. 8, U.S. carriers are expecting a strong holiday season after the health crisis sent travel demand plummeting in 2020.
"While the rise of the COVID-19 delta variant delayed some of our revenue recovery, it has not stopped our progress," Chief Executive Officer Doug Parker said.
The No.1 U.S. airline reported a net income of $169 million, or 25 cents per share, in the third quarter ended Sept. 30, compared with a loss of $2.40 billion, or $4.71 per share, a year earlier.
Excluding items, the company posted a third-quarter net loss of $641 million, or 99 cents per share.
Total operating revenue jumped 183% to $8.97 billion.
The airline ended the quarter with about $18 billion of total available liquidity.
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