Latest News by Industry
American Airlines Group Inc (NASDAQ: AAL) on Thursday posted its first quarterly profit without government aid since the beginning of Covid-19 pandemic.
The airline posted profit of $476 million in the second quarter, up from $19 million a year earlier.
American also raised its revenue forecast for the third quarter but scaled back growth plans due to several flight disruptions this year.
The company said revenue would be up as much as 12% from 2019 in the third quarter but it would fly 8% to 10% below 2019 levels.
Shares of the company were down more than 6% in early trading.
United Airlines (NASDAQ: UAL) also reported its first quarterly profit on Wednesday for the first time since the beginning of Covid-19 pandemic.
For the second quarter, revenue of American was up 12% from three years earlier to $13.4 billion.
Picture Credits: Getty Images
ALSO READ: