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Tuesday, January 26, 2021

American Airlines swings to $480M 1Q profit

DAVID KOENIG, AP Airlines Writer

DALLAS (AP) — American Airlines is making money again and beating expectations after its merger with US Airways.

The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost $297 million a year earlier.

The profit works out to 65 cents per share, easily topping analyst projections for 48 cents per share.

Revenue rose 5.6 percent to $10 billion, just below analyst forecasts of $10.02 billion.

American Airlines Group Inc., formed by the December merger, is the largest airline in the world.

Shares of the Fort Worth, Texas, carrier are higher in premarket trading.

 

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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