Source::Xinhuanet
HOUSTON,
American Airlines Group Inc. (AAL) on Thursday reported a net loss of 1.3 billion U.S. dollars in the first quarter of 2021. In its first-quarter 2021 financial results report, the company announced its Q1 revenue of 4.0 billion dollars, down 53 percent year over year on a 39 percent year-over-year reduction in total available seat miles (ASMs).
According to the report, AAL ended the first quarter with approximately 17.3 billion dollars of total available liquidity. The company expects to end the second quarter with approximately 19.5 billion dollars in total available liquidity. Based on current trends, the company expects its second-quarter capacity to be down 20 to 25 percent compared to the second quarter of 2019. AAL also expects its second-quarter total revenue to be down approximately 40 percent versus the second quarter 2019.
"Looking forward, with the momentum underway from the first quarter, we see signs of continued recovery in demand. We remain confident the network enhancements, customer-focused improvements and efficiency measures we've put into place will ensure American is well-positioned for the recovery," said AAL Chairman and CEO Doug Parker.
American Airlines Group Inc. was formed on Dec. 9, 2013 with the closing of the merger between American Airlines and US Airways Group.
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