WASHINGTON (dpa-AFX) - American Airlines Group Inc. (AAL) reported second quarter profit per share excluding net special items of $0.76 compared to a loss of $1.69, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.76, for the quarter. Analysts' estimates typically exclude special items. Net income excluding net special items was $533 million, for the quarter.
American and its regional partners operated more than 500,000 flights in the quarter, up 8% from last year, with an average load factor of 87%, which is 10 points higher than a year ago.
Second quarter earnings was $476 million compared to $19 million, a year ago. EPS was $0.68 compared to $0.03.
Second-quarter revenue was $13.4 billion, a 12.2% increase over the same period in 2019, despite flying 8.5% less capacity. Analysts on average had estimated $13.4 billion in revenue.
American said it will continue to match forward capacity with the resources required to support its operation. The company currently expects third-quarter total revenue to be 10% to 12% higher versus the third quarter of 2019 on 8% to 10% lower capacity. The company expects to be profitable in the third quarter.
The company ended the second quarter with $15.6 billion of total available liquidity. American noted that it remains on track to reduce overall debt levels by $15 billion by the end of 2025.
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