American Airlines (AAL) Recognizes 3Q21 Profit Thanks to Federal Assistance

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American Airlines On Thursday, it reported a profit of $ 169 million in the third quarter, thanks to more than $ 990 million in federal salary support.

Revenues totaled $ 8.97 billion this quarter, down about 25% from the same period in 2019, but up from $ 3.17 billion brought by Americans a year ago. This exceeded analysts’ expectations of $ 8.94 billion. Without temporary items like government salary support, Americans would have lost 99 cents per share, below what analysts expected to lose $ 1.04 per share.

“I don’t like to report losses, but this was the smallest quarterly loss since the pandemic began,” US CEO Doug Parker and career president Robert Isom wrote in a note to employees. wrote.

In late-night trading, US stock prices rose 1.2%.

American expects revenues to fall by about 20% in the fourth quarter from 2019, when it generated $ 11.3 billion in revenue. It also states that capacity will be reduced by 11% to 13% compared to two years ago.

Fort Worth, Texas-based airlines forecast pre-tax margins (excluding special items) to be between -16% and -18% in the fourth quarter.

American Airlines (AAL) Recognizes 3Q21 Profit Thanks to Federal Assistance

Source link American Airlines (AAL) Recognizes 3Q21 Profit Thanks to Federal Assistance

The post American Airlines (AAL) Recognizes 3Q21 Profit Thanks to Federal Assistance appeared first on Eminetra.

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