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  • Joe Breitfeller

American Airlines Reports Third Quarter Adjusted Net Loss of $641 Million on $9.0 Billion in Revenue

American Airlines has reported an adjusted third quarter net loss of $641 million or ($0.99) per share. When net special items are included, primarily $992 million in PSP3 benefits, the company reported a profit of $169 million or $0.25 per diluted share.


American Airlines Reports Third Quarter 2021 Financial Results - Courtesy American Airlines

On Thursday (October 21, 2021), American Airlines reported their third quarter financial results for the period ending September 30, 2021. Including net special items, primarily $992 million related to the third extension of the U.S. Cares Act Payroll Support Program (PSP3), the airline reported a third quarter net profit of $169 million or $0.25 per diluted share. When net special items are excluded, the airline reported a third quarter net loss of $641 million or ($0.99) per diluted share. The company’s third quarter revenue increased 20 percent sequentially over the second quarter to $9.0 billion. At September 30, 2021, American Airlines had total liquidity of approximately $18 billion, after prepayment of a $950 million spare parts term loan during the quarter. The company also unencumbered 20 Boeing 777-200s during the period.


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


“The American Airlines team continues to demonstrate its resilience and ability to execute, enabling us to deliver our best quarter since the pandemic began as measured by pre-tax financial results. While the rise of the COVID-19 delta variant delayed some of our revenue recovery, it has not stopped our progress. We are incredibly proud of the team’s hard work to operate a great airline, and with the network, cost and fleet simplification actions we have taken, we’re confident American is well-positioned as the recovery takes hold.”


American Airlines’ third quarter revenue per available seat mile (RASM) increased year-over year by 42.3%, while third quarter cost per available seat mile (CASM) decreased by 30.2%. Excluding net special items and fuel (CASM-ex), the carrier’s cost per available seat mile decreased 36.7% compared to Q3 2020. American Airlines ended the third quarter with a fleet of 1,414 aircraft, including 857 mainline and 557 regional aircraft.


American Airlines' Third Quarter 2021 Financial Results - Infographic Courtesy of 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.


In pre-market trading on Thursday morning (October 21, 2021), shares in American Airlines (NASDAQ: AAL) were up 0.77% to $19.52/share (9:10 AM EDT).



Source: American Airlines