A rebound in tourist traffic in the USA helped American Airlines make a $19 million profit, tiny compared to the multibillion losses the company had suffered throughout the year. However, this was made possible by more than $1 billion in financial aid from the US government. Excluding these payments, the quarter was once again a loss for American, by $1.1 billion.
The carrier’s revenue was up markedly from a year ago, from $1.6bn to $7.48bn. However, compared to pre-2019, the current revenue is still far from optimal. Two years ago, the company generated revenue of $12bn.
Southwest Airlines, the third-largest US carrier, grew revenue by almost 300% year-on-year to $4bn, still 32% less than the $5.9bn it generated in the same period in 2019. The airline posted a second-quarter net profit of $348m, compared with a loss of $915m a year earlier.
source: bloomberg.com
