American Airlines: record liquidity in Q2

(CercleFinance.com) - American Airlines has reported Q2 revenue of 7.
5 billion dollars, up 87% sequentially.

The company reported quarterly net profit of 19 million dollars (GAAP). However, excluding the special credits relating to the financial assistance it received in Q2, the company recorded a net loss of 1.1 billion dollars over the period.

American Airlines said it ended the quarter with nearly 21.3 billion dollars in cash, a record for the company. The company expects to repay about 15 billion dollars of debt by the end of 2025.

“We have taken a number of steps to solidify our business through our Green Flag Plan and it shows in our second-quarter results,” said American's Chairman and CEO Doug Parker.

“We have reshaped our network, simplified our fleet and made our cost structure more efficient, all to create an airline that will outperform competitors,” he added.

American Airlines expects Q3 revenue to fall by about 20% relative to pre-pandemic Q3 2019.


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