American Airlines Reports First Quarter Net Income of $10 Million or $0.02 per Diluted Share

American Airlines has reported a first quarter net loss of $10 million or $0.02 per diluted share on a year-over-year increase in revenue of 37 percent to $12.2 billion. At March 31, 2023, the carrier had total liquidity of $14.4 billion.

American Airlines Boeing 787-9 Dreamliner - Courtesy American Airlines

On Thursday (April 27, 2023), American Airlines reported their first quarter financial results for the period ending March 31, 2023. The carrier reported a first quarter net profit of $10.0 million or $0.02 per diluted share on a year-over-year increase in revenue of 37 percent to $12.2 billion. American’s first quarter total revenue per available seat mile (TRASM) increased 25.4 percent compared to Q1 2022 to 18.75 cents, while costs per available seat mile (CASM) increased 1.3 percent to 18.08 cents. Costs, excluding fuel and net special items (CASM-ex) declined year-over-year by 1.4 percent to 13.18 cents. At March 31, 2023, American Airlines had liquidity totaling $14.4 billion, including cash, short-term investments and capacity under undrawn revolving credit facilities and other short-term credit facilities.

In Thursday’s announcement, American Airlines’ CEO, Robert Isom, said,

“The American Airlines team ran a great operation and delivered on our financial guidance for the quarter, resulting in a first-quarter profit for the first time in four years. Looking ahead to the remainder of 2023, we remain focused on reliability, profitability, strengthening the balance sheet, and creating even more value for our shareholders, team members, customers and the communities we serve.”

American Airlines' First Quarter 2023 Financial Results - Courtesy American Airlines

During the first quarter, American reduced their total debt by over $850 million, as part of the company’s goal to reduce total debt by $15.0 billion by year-end 2025. To date, American has reduced their total debt by $9.0 billion from peak levels at Q2 2021.

Highlights From American Airlines' First Quarter 2023 Financial Results - Courtesy American Airlines

American Airlines’ purpose is to “Care for People on Life’s Journey.” Shares in the American Airlines Group, Inc., trade on NASDAQ under the ticker symbol AAL and the company’s stock is included in the S&P 500.

In trading Thursday morning, shares in American Airlines Group, Inc. (NASDAQ: AAL) were up 3.06 percent to $13.13/share (9:39 AM EDT).

Source: American Airlines