Hurricanes hit American Airlines profit
More than 8,000 flight cancellations caused by Hurricanes Harvey, Irma and Maria hit American Airlines’ pre-tax earnings by an estimated $75 million.
Releasing its third quarter results today, the airline said pre-tax earnings were $1.1 billion, a $369 million drop on the same quarter in 2016.
Its net income fell to $624 million from $737 million the previous year.
"Despite the significant operational challenges posed by three hurricanes, our team delivered solid financial results," said chairman and CEO Doug Parker.
"The hurricane response highlighted the humanity and professionalism of the American team, and our industry as a whole."
The airline said its revenue per seat per mile grew 1.1% in the three months to September 30 but should improve in the fourth quarter.
"We are playing the long game at American to create value in an industry that has been fundamentally transformed," added Parker.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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