American Airlines Reports Record Profit in Q2

An American Airlines jet at JFK

American Airlines Group announced financial results for the second quarter of 2014.

The airline reported a profit of $864 million, compared with $220 million in the same period in 2013.  On a combined basis, earnings in 2013 were $507 million.  Total revenue was up 76% to $11.36 billion.

American said it took $592 million in special charges relating to merger integration expenses and bankruptcy-related settlement obligations.

Excluding special charges, net profit was $1.5 billion, a record for the company for any quarter and a 114% increase for the combined non-GAAP net profit in Q1 2013.

American Airlines Group was formed by the merger of American Airlines’ parent AMR and US Airways Group late last year.

(Photo: Accura Media Group)