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American Airlines Reports First Quarter 2024 Net Loss of $312 Million or $0.48 per Diluted Share

American Airlines has reported a first quarter 2024 net loss of $312 million or ($0.48) per diluted share on a year-over-year increase in revenue of 3.1 percent to $12.6 billion, a company first quarter record.


American Airlines Reports First Quarter 2024 Financial Results - Courtesy American Airlines

On Thursday (April 25, 2024), American Airlines reported their first quarter financial results for the period ending March 31, 2024.  The carrier reported a first quarter net loss of $312 million or ($0.48) per diluted share on a 3.1 percent increase in revenue versus the same period last year to a record $12.6 billion.  During the first quarter, American reduced their total debt by nearly $950 million, and the carrier has now achieved 80 percent of their total debt reduction goal of $15 billion by 2025.


In Thursday’s announcement, American Airlines’ CEO, Robert Isom, said,


“The American Airlines team continues to build a reliable, efficient and resilient airline.  While we aren’t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets.  Our team is running a fantastic operation, driving revenue through our commercial initiatives, efficiently managing costs, and producing free cash flow to further strengthen our balance sheet.”


American Airlines' First Quarter 2024 Financial Results - Courtesy American Airlines

American’s first quarter total revenue per available seat mile (TRASM) declined year-over-year by (4.9) percent to 17.83 cents, while cost per available seat mile (CASM) decreased (1.4) percent to 17.82 cents.  Costs excluding fuel and net special items (CASM-ex) increased versus Q1 2023 by 2.3 percent to 13.49 cents.

 


American Airlines' First Quarter 2024 Financial Highlights - Courtesy American Airlines

American Airlines’ purpose is ‘To Care for People on Life’s Journey®’.  Shares in the American Airlines Group, Inc., trade on NASDAQ under the ticker symbol AAL and the company’s stock is included in the S&P 500. 


 

Source: American Airlines

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