American Airlines recorded highest quarterly revenue in its history
American Airlines announced Thursday a net loss of $676 million for the first nine months of the year, down 36.2 % from the $1.061 billion it lost in the same period of 2021, and posted the highest quarterly revenue in its history, thanks to strong demand.
Turnover totaled $35.783 billion, up 74.9% from the $20.455 billion earned between January and September last year.
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In the third quarter, the period most closely followed by Wall Street analysts, American Airlines billed $13.462 billion, up 50.1 % from $8.969 billion in the same period in 2021, and 13 % above the same period in 2019, before the pandemic outbreak.
“American achieved revenue of $13.5 billion in the third quarter, an increase of 13 % compared to 2019 and a record for any quarter in the company’s history. This record revenue was achieved with 9.6 % less capacity than in the same period in 2019,” the company said in the statement.
Likewise, between July and September it recorded a net profit of 483 million dollars, an increase of 36.3 % year-on-year.
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The company noted that the occupancy level of its flights in the last quarter was 85.3 %, an increase of 6.6 points year-on-year, and reported that fuel expenses exceeded 3.8 billion dollars, almost double that of a year ago, while labor costs rose 12 % to 3.4 billion dollars.
The airline announced that it expects its fourth quarter revenues to increase between 11% and 13% year-on-year, reported EFE.
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