MIAMI – American Airlines (AA) today announced its financial results for the third quarter of 2021, with a revenue recovery of US$9bn. In summary, the airline group reports:
- Third-quarter net profit of US$169m, or US$0.25 per diluted share. Excluding net special items, third-quarter net loss of US$641m, or (US$0.99) per share.
- Third-quarter revenue of $9.0bn, up 20% sequentially from the second quarter of 2021.
- Ended the third quarter with approximately US$18bn of total available liquidity, after prepayment of US$950m spare parts term loan during the quarter.
- Company continues to expect robust demand during peak travel periods in the fourth quarter, with more than 6,000 peak day departures.
- Company continues to execute on its plan to pay down approximately US$15bn of debt by the end of 2025.
Other Key Items from Q3
American Airlines and IndiGo (6E), India’s largest airline, announced a new codeshare deal. The deal would see AA’s code placed on 29 IndiGo domestic routes in India, giving customers arriving on American’s new Bengaluru (BLR) and Delhi (DEL) flights a handy choice.
American also signed letters of intent with JetSMART and expanded its collaboration with GOL in order to develop its strong South American network and increase long-haul flights. Both deals are contingent on the completion of definitive papers and regulatory approvals.
Benefits are still being added by American and JetBlue to offer a more seamless client experience. When flying on both airlines, AAdvantage® and TrueBlue Mosaic members now enjoy their elite privileges, including priority check-in, priority baggage, priority security, and priority boarding. AA anticipates launching AAdvantage award redemption on JetBlue (B6) in the near future.
Since January, AA and B6 have added 58 new routes, boosted frequency on more than 130 routes, and codeshared on 175 routes to better serve consumers in New York and Boston. The alliance connects the Northeast to over 150 locations across the world, including ten new international routes on AA.
These routes, made possible by the Alliance, include new services from JFK to Tel Aviv, Israel (TLV); Athens, Greece (ATH); and Delhi (DEL).
Comments from American Airlines CEO
“The American Airlines team continues to demonstrate its resilience and ability to execute, enabling us to deliver our best quarter since the pandemic began as measured by pre-tax financial results,” said American’s Chairman and CEO Doug Parker.
“While the rise of the COVID-19 delta variant delayed some of our revenue recovery, it has not stopped our progress. We are incredibly proud of the team’s hard work to operate a great airline, and with the network, cost and fleet simplification actions we have taken, we’re confident American is well-positioned as the recovery takes hold.”
Featured image: American Airlines Boeing 777-200 N774AN. Photo: Miles Aronovitz/Airways