American Airlines Reported Fourth-quarter Revenue of $9.4 billion and Net Loss of $931 Million

Tiger Newspress2022-01-20

American Airlines Group Inc. reported a smaller fourth-quarter loss on Thursday, boosted by strong travel demand during the holiday season.

U.S. carriers benefited from millions of Americans flying in November and December, with the Transportation Security Administrationscreeningnearly 21 million travelers during the 10-day Thanksgiving holiday.

Demand during Christmas Eve and New Year's Eve was strong as well, although mass flight cancellations towards the end of the year due to rising COVID-19 cases and inclement weather meant airlines could not fully tap that demand.

Fort Worth, Texas-based American Airlines had ramped up capacity and staffing to meet the demand surge during the key season. Available seat miles, the carrying capacity of an airplane available to create revenue, rose 84% from a year earlier.

  • Fourth-quarter revenue of $9.4 billion, down 17% versus the same period in 2019 on a 13% reduction in total available seat miles (ASMs) versus the same period in 2019.
  • Fourth-quarter net loss of $931 million, or ($1.44) per share. Excluding net special items1, fourth-quarter net loss was $921 million, or ($1.42) per share.
  • Full-year net loss of $2.0 billion, or ($3.09) per share. Excluding net special items2, full-year net loss was $5.4 billion, or ($8.38) per share.
  • Safely transported more than 165 million passengers in 2021, more than any other U.S. carrier.
  • Ended the fourth quarter with $15.8 billion of total available liquidity, the highest year-end liquidity balance in company history.

“As we close out the second year of operating in a global pandemic, we are incredibly proud of the American Airlines team,” said American’s Chairman and CEO Doug Parker. “Over the past year, we have experienced periods of high travel demand countered by periods of decreased demand due to new COVID-19 variants. This volatility has created the most challenging planning environment in the history of commercial aviation. Yet the American team has delivered, growing back faster and further than any other U.S. airline to meet this unpredictable demand. Looking ahead, I’m excited about the future of American with Robert Isom as its new CEO. While we still have work to do as the recovery from the pandemic continues, I have no doubt the best is yet to come for American.”

American Airlines shares rose 1.85% in premarket trading.

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