American Airlines Profits Climb Despite Boeing 737 Max Woes

By Jesse Sokolow on 23 January 2020
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American Airlines announced financial results on Thursday for the fourth quarter of 2019 and the calendar year

The world’s largest airline reported net income of $414 million for the final three months of 2019, a year-over-year increase of over 27%. Revenue rose 3.4% to $11.31 billion.

Like competitors United and Southwest airlines, American is grappling with the fallout from the 11-month grounding of the beleaguered Boeing 737 Max aircraft. The airline said it canceled 10,000 flights in the fourth quarter alone.

The 737 Max was not the airline’s only problem.  Operational woes plagued the airline for much of 2019.

““During the fourth quarter, we made important progress to address the issues that impacted our business in 2019,”said American CEO Doug Parker in a statement

“While our results for the quarter reflect this progress, we know there is more work to be done,” he added, listing three goals, namely improving its operations, fortifying its hub airports, and driving up cash flow.

(Photo: Accura Media Group)

Accura News

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