American Airlines First Quarter Profit Soars
American Airlines Group announced financial results for the first quarter of 2015.
The airline reported a profit of $932 million, almost double what it reported for the same period in 2014 Total revenue was down 1.7% to $9.8 billion.
American said it expects to cut capacity in 2016 by 0.6%, although it continues to forecast that 2015 capacity will rise around 2% compared with 2014, driven more by domestic than international growth.
American said it took $311 million in special charges in the quarter, including $223 million in merger-related integration expenses, $99 million in charges relating to the airine’s new pilot joint collective bargaining agreement, and $6 million in net credits for bankruptcy-related items.
American Airlines Group was formed by the merger of American Airlines’ parent AMR and US Airways Group late 2013.
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