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American Airlines Reports Fourth Quarter Net Loss of $931 Million, Full Year 2021 Net Loss of $2.0 B

American Airlines has reported a fourth quarter net loss of $931 million or ($1.44) per share on a year-over-two decline in revenue of 17 percent to $9.4 billion. For the full year 2021, the carrier reported a net loss of $2.0 billion or ($3.09) per share.

American Airlines Reports Fourth Quarter and Full Year 2021 Financial Results - Courtesy American Airlines

On Thursday (January 20, 2022), American Airlines reported their fourth quarter and full year financial results for the period ending December 31, 2021. The carrier reported a fourth quarter net loss of $931 million or ($1.44) per share on a year-over-two revenue decline of 17 percent to $9.4 billion, and a 13 percent reduction in capacity versus Q4 2019. Excluding net special items, the carrier’s Q4 net loss was $921 million or ($1.42) per share. For the full year 2021, American reported a net loss of $2.0 billion or ($3.09) per share on a 72.4 percent increase in revenue versus FY20 to $29.9 billion. Excluding net special items, the airline’s full year 2021 net loss was $5.4 billion or ($8.38) per share.

In Thursday’s announcement, American Airlines’ Chairman and CEO, Doug Parker, said,

“As we close out the second year of operating in a global pandemic, we are incredibly proud of the American Airlines team. 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' 2021 Financial Results - Infographic Courtesy of American Airlines

Also commenting on the company’s fourth quarter and full year 2021 results, American Airlines’ President and incoming CEO, Robert Isom, added,

“We’re very proud of the way our team delivered throughout 2021. Looking forward, our focus in 2022 will be to continue running a reliable airline, returning to profitability, and delivering on our long-term plan to deleverage the balance sheet.”

For the full year 2021, American Airlines recognized $4.4 billion of pre-tax net special items, including $4.2 billion of mainline Payroll Support Program (PSP) financial assistance and $539 in regional PSP assistance. At December 31, 2021, the carrier has total available liquidity of $15.8 billion, the highest year-end liquidity balance in company history. For the fourth quarter, American’s total revenue per available seat mile (TRASM) increased 27.3 percent compared to Q4 2020, while the carrier’s cost per available seat mile (CASM) declined 15.2 percent compared to the same quarter last year. Excluding fuel and special items (CASM-ex), the carrier’s operating costs per available seat mile for the fourth quarter declined year-over-year by 25.3 percent compared to Q4 2020.

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.

In pre-market trading Thursday morning (January 20, 2022), shares in American Airlines Group, Inc. (NASDAQ: AAL) were up 2.60% to $17.76/share (9:21 AM EST).

Source: American Airlines


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