Government support sees American return to profit | News

American Airlines Group has reported a second-quarter net profit of $19 million, or $0.03 per diluted share.

However, excluding net special items, the second-quarter net loss at the carrier stood at $1.1 billion, or -$1.69 per share.

The company recognised $1.4 billion of net special credits during the three-month period, largely related to financial assistance received from government payroll support programs, which accounted for the difference.

Second-quarter revenue stood at $7.5 billion, up 87 per cent sequentially from the first quarter of the year.

“We have taken a number of steps to solidify our business through our Green Flag Plan and it shows in our second-quarter results,” said American chief executive, Doug Parker.

“We have reshaped our network, simplified our fleet and made our cost structure more efficient, all to create an airline that will outperform competitors and deliver for customers.

“The green flag has dropped, and we are ready thanks to the tremendous efforts and dedication of the American Airlines team.”

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