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American Airlines Reports Second Quarter Net Income of $468 Million or $0.68 per Diluted Share

American Airlines has reported a second quarter 2022 net income of $476 million or $0.68 per diluted share on a year-over-three increase in revenue of 12.2 percent to $13.4 billion. At June 30, 2022 the carrier has $15.6 billion of total available liquidity.

American Airlines Reports Second Quarter 2022 Financial Results - Courtesy American Airlines

On Thursday (July 21, 2022), American Airlines reported their second quarter financial results for the period ending June 30, 2022. The carrier reported a second quarter net profit of $468 million or $0.68 per diluted share on an increase in revenue of 12.2 percent compared to Q2 2019. American’s second quarter Total Revenue per Available Seat Mile (TRASM) increased year-over-year by 48 percent to 20.29 cents, while Costs per Available Seat Mile (CASM) increased year-over-year by 45.3 percent to 18.75 cents. Costs excluding fuel and net special items increased 0.5 percent from Q2 2021 to 12.68 cents. At June 30, 2022, American Airlines had total available liquidity of approximately $15.6 billion.

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

“We are very pleased to report a quarterly profit, excluding net special items, for the first time since the start of the pandemic, driven by the strong demand environment and the hard work of our team. The American Airlines team has stepped up to meet the surge in demand for air travel while running a reliable operation in very challenging conditions. We are encouraged by the trends we’re seeing across the business, and we remain well-positioned for the continued recovery.”

American Airlines continues to execute on their plan to pay down approximately $15 billion in debt by 2025. During the second quarter, the company made $1.0 billion in scheduled debt and finance lease payments, including the payoff of the remaining $433 million outstanding balance of their 750 million unsecured senior notes that matured in June. To date, the airline has reduced their overall debt by $5.2 billion from peak levels in Q2 2021.

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 trading Thursday morning (July 21, 2022), Shares in American Airlines Group (NASDAQ: AAL) were down 7.66% to $14.04/share (11:20 AM EDT).

Source: American Airlines

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