American Airlines Reports First Profit Since Start of Pandemic

By Paul Riegler on 22 July 2021
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American Airlines announced financial results for the second quarter of 2021.

The airline’s revenue was up more than four-fold from a year ago following increased demand after a severe decline amidst the worst of the coronavirus pandemic, but was down 37% from the same quarter in 2019. American was able to report a second-quarter profit of $19 million, its first since the pandemic started, thanks to the nearly $1.5 billion in federal relief it had received.

“We have taken a number of steps to solidify our business … and it shows in our second-quarter results,” said the airline’s CEO, Doug Parker in a statement Thursday. “We have reshaped our network, simplified our fleet and made our cost structure more efficient, all to create an airline that will outperform competitors and deliver for customers.”

Were it not for the $1.5 billion in federal relief to help airlines cover payroll costs American would have lost $1.1 billion. That is the Fort Worth-based carrier’s smallest adjusted loss in any quarter since 2019.

On Wednesday, the airline said it planned to hire 1,350 new pilots, 450 more than originally planned.

(Photo: Accura Media Group)

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