American posts record quarterly revenue
American Airlines Group posted record quarterly revenue of $14.1 billion in Q2.
It marks a 4.7% increase year over year.
It posted a net income of $1.3 billion on a GAAP basis with an operating margin of 15.4%.
Demand was especially high in June, driven by an increase in close-in bookings.
Domestic and short-haul international performed well, AA said.
“Our operation is performing at historically strong levels, and we have worked to refresh our fleet and build a comprehensive global network,” AA CEO Robert Isom said.
It ended the quarter with $14.9 billion of total available liquidity.
American and regional affiliates operated nearly 500,000 flights in the second quarter, with average load factor of 86%.
It operated its largest-ever mainline Memorial Day weekend schedule.
As of end-June, it reduced its total debt by around $9.4 billion from peak levels in mid-2021.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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