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Tuesday, October 20, 2020
Banking American Airlines soars

American Airlines soars

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American Airlines reported that its fourth-quarter profit rose 27% on strong travel demand. That helped boost occupancy levels on its planes. But the airline continues to grapple with the impact of the grounding of Boeing 737 Max jets. American said Thursday that it had canceled about 10,000 flights in the fourth quarter because of the grounding. The company’s adjusted earnings were a penny better than expected. And its revenue rose more than 3% to $11.31 billion, matching analysts’ forecasts. Shares of the the Fort Worth, Texas, airline rose 5% for the day Thursday.

AP

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