American Airlines posts quarterly profit, boosted by strong travel demand, federal aid

FAN Editor

An American Airlines Boeing 777-300ER plane takes off from Sydney Airport in Sydney, Australia, October 28, 2020.

Loren Elliott | Reuters

American Airlines on Thursday posted a profit for the second quarter, getting a lift from federal aid and a surge in travel demand.

The Fort Worth-based carrier reported net income of $19 million, snapping five consecutive quarters of losses, thanks in part to more than $1 billion in federal payroll support. Revenue for the three months ended June 30 came in at $7.48 billion, up from just $1.6 billion a year earlier and ahead of Wall Street analysts’ forecasts, as customers returned to the skies in droves.

Adjusting for one-time items, American had a loss of $1.1 billion or $1.69 as share.

This is breaking news. Check back for updates.

Free America Network Articles

Leave a Reply

Next Post

Stock futures rise with the Dow set to gain for a third day

U.S. stock index futures were higher on Thursday as stable bond yields continued to give the green light to investors to buy stocks following Monday’s market rout. Futures contracts tied to the Dow Jones Industrial Average gained 33 points, or 0.1%, pointing to a third day of gains for the […]