American Airlines swings record $480M in first quarter

American Airlines

Credit: WFAA

American Airlines swings record $480M in first quarter

Print
Email
|

Associated Press

Posted on April 24, 2014 at 7:53 AM

Updated Thursday, Apr 24 at 12:32 PM

DALLAS -- American Airlines is making money again and beating expectations after its merger with US Airways.
   
The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost $297 million a year earlier.
   
The profit works out to 65 cents per share, easily topping analyst projections for 48 cents per share.
   
Revenue rose 5.6 percent to $10 billion, just below analyst forecasts of $10.02 billion.
   
American Airlines Group Inc., formed by the December merger, is the largest airline in the world.
   
Shares of the Fort Worth, Texas, carrier are higher in premarket trading.

Print
Email
|