2021/01/28 21:01 An American Airlines Boeing 777 is framed by utility wires as it prepares to land at Miami International Airport, Wednesday, Jan. 27, 2021, in Miami. . An American Airlines Boeing 777 is framed by utility wires as it prepares to land at Miami International Airport, Wednesday, Jan. 27, 2021, in Miami. The airline said Thursday that it lost $2.2 billion in the fourth quarter, with revenue plunging by nearly two-thirds from a year earlier. And the airline lost $8.9 billion for the full year after earning nearly $1.7 billion in 2019. .(AP Photo/Wilfredo Lee) FORT WORTH, Texas (AP) American Airlines lost $2.2 billion in the fourth quarter as people stayed put in the pandemic, sending the carrier s revenue plunging by nearly two-thirds from the same period a year ago.
Shares in American Airlines Group Inc surged more than 20 percent in opening trading on Wall Street after the carrier was mentioned on Reddit’s WallStreetBets forum and it posted a slimmer-than-expected quarterly loss on Thursday.
American joined rival Delta Air Lines in calling 2021 a year of recovery for an industry that has been ravaged by the coronavirus pandemic, but airlines continue to burn through millions of dollars every day and the strength of the rebound will depend on the pace of vaccine roll-outs and the easing of travel restrictions.
“As we look to the year ahead, 2021 will be a year of recovery. While we don’t know exactly when passenger demand will return, as vaccine distribution takes hold and travel restrictions are lifted, we will be ready,” American Airlines Chief Executive Doug Parker said.
American Airlines loses $ 8 9 billion during pandemic news.am - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news.am Daily Mail and Mail on Sunday newspapers.
DALLAS (AP) Just how bad was 2020 for the airline industry? The six biggest U.S. airlines lost $34 billion, and Southwest suffered its first full-year loss since Richard Nixon was president and gasoline sold for 36 cents a gallon.
It was a disaster for airlines, worse than 9/11 or the global financial crisis some very small carriers didn t survive it and the new year is off to a grim start.
On Thursday, Southwest, American and JetBlue reported that they lost a combined $3.5 billion in the final three months of the year. All issued dismal revenue outlooks for the current quarter that echoed similar pessimism from Delta, United and Alaska, which posted financial results earlier.