American Airlines First Quarter Profit Takes Off After Merger
American Airlines Group announced financial results for the first quarter of 2014.
The new American was formed by the merger of American Airlines’ parent AMR and US Airways Group late last year.
The Dallas-based carrier reported a net profit of $480 million, compared with a combined loss of $297 million in the same period in 2013.
Combined revenue for the first quarter was $10 billion, a 5.6% year-over-year increase.
The airline said that its first-quarter adjusted earnings were helped by a gain from the sale of landing slots at Reagan National Airport, a move that was required by antitrust regulators in order to complete the merger.
Passenger revenue per available seat mile, or Prasm, rose 2.9%.