American, Southwest post quarterly profits, boosted by travel surge, federal aid


In this article

An American Airlines Boeing 777-300ER plane takes off from Sydney Airport in Sydney, Australia, October 28, 2020.
Loren Elliott | Reuters

American Airlines on Thursday posted a profit for the second quarter, getting a lift from federal aid and a surge in travel demand.

The Fort Worth-based carrier reported net income of $19 million, snapping five consecutive quarters of losses, thanks in part to more than $1 billion in federal payroll support. Revenue for the three months ended June 30 came in at $7.48 billion, up from just $1.6 billion a year earlier and ahead of Wall Street analysts’ forecasts, as customers returned to the skies in droves.

Adjusting for one-time items, American had a loss of $1.1 billion or $1.69 as share.

This is breaking news. Check back for updates.

Products You May Like

Articles You May Like

The full list of countries on the travel red list, and the hotel quarantine rules
U.S. to ease travel restrictions for foreign visitors who are vaccinated against Covid
Amid Drought, Billionaires Control A Critical California Water Bank
The airplane cabin designs of the future
NYC Restaurant Hostess Gets Attacked After Asking For Covid-19 Vaccination Proof

Leave a Reply

Your email address will not be published. Required fields are marked *