American Airlines loses 1,993 million in 2021.

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3 years ago

American Airlines on Thursday reported a loss of $1,993 in 2021, 77.6% lower than in 2020, when it reported a historic loss of $8.885 million, due to the heavy impact of the pandemic on its operations.

In operating terms, the airline’s losses were 1,059 million, 89.8% lower than in the previous period, showing the recovery experienced in the last year despite the persistence of covid-19.

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In terms of operating revenues, the airline collected 29,882 in 2021, 72% more than the 17,337 achieved in 2020. In this section, ticket sales to passengers increased by 79.5% and revenue from freight forwarding by 70.8%.

In the last three months of the year, on which Wall Street investors were most focused today, American lost 931 million dollars, 57% less than in the same period of 2020; which meant a loss per share of 1.44 dollars, EFE reported.

“Over the past year, we experienced periods of high travel demand offset by periods of declining demand due to new covd-19 variants,” the entity’s CEO Doug Parker said in a statement.

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Parker, who will step down at the end of March, insisted that “this volatility has created the most challenging planning environment in the history of commercial aviation.”

As for first-quarter guidance, the company said it expects revenues to continue to be 20-22% below those recorded in 2019, while it will operate at 90-92% of capacity.

An hour after the NYSE opened, American Airlines shares were up 0.40%, after falling as much as 3% moments after the open.

Photo: Eric Salard /Wikipedia