American Airlines has its best quarter of revenue ever, but profit is down from 2019.
American Airlines reported revenue of $ 13.4 billion over the three months ending in June. This is the highest quarter in the company’s history.
But, like other carriers, soaring costs offset the good news. Revenues increased by about 12% from the same period in 2019, Americans said Thursday that second quarter profit It was $ 476 million, down about 28% from the same quarter of 2019.
Airlines are struggling to take advantage of strong travel rebounds due to staff shortages, high costs and other challenges. According to aviation data provider FlightAware, American Airlines canceled about 5% of its scheduled flights last month. This is more than any other major airline.
“It wasn’t easy to achieve these results,” said Robert Isom, CEO of the United States, in a message to employees. “The operating environment this quarter was particularly harsh, especially in terms of weather. We encountered significant weather in 27 of the 30 days of June.”
Still, Isom said airlines are optimistic about the coming months as two profitable parts of the business, international travel and corporate travel, continue to recover. He said the airline flew more passengers traveling for leisure in the United States in the second quarter of this year than it did during the same period in 2019.
American said it expects to make another profit in the third quarter, which ends in September. The airline predicted that quarterly revenue would increase by at least 10% from 2019, despite a decrease in capacity of at least 8%.
American Airlines also said it expects delivery of its large twin-isle Boeing 787 Dreamliner to resume this quarter and the first jet to be delivered in August. Delivery of the Dreamliner has been suspended for approximately a year due to quality concerns.
Americans weren’t the only ones to break the record last quarter. Alaska Airlines is the 5th largest airline in the country in terms of market share Also reported record quarterly earnings $ 2.7 billion on Thursday. The airline said it earned $ 139 million this quarter, filling an average of 88% of airplane seats. This is another record.
American Airlines, Alaska Airlines and United Airlines will call investors, analysts and reporters on Thursday to further detail their Q2 results and outlook for the coming months.
