Thousands to Leave American Airlines After Reports of a $1.25 Billion Loss
On 4/22/21 at 9:44 AM EDT
American Airlines said Thursday that the company lost $1.25 billion in the first quarter and is continuing to cut costs.
The airline said it burned through $27 million in cash each day in the quarter, down from $30 million a day in the fourth quarter of 2020. American reduced 2021 costs by more than $1.3 billion, including delaying delivery of new jets and a new round of voluntary buyouts that will result in 1,600 employees leaving the company. We are incredibly proud of the American Airlines team for their continued care of our customers and each other, Chairman and CEO Doug Parker said in a statement. Our team has shown up every day throughout the pandemic and served more customers than any other airline. That focus has served as our inspiration and positions us well as even more customers return to the skies.
American Airlines said Thursday that it lost $1.25 billion in the first quarter and continued to slash costs, including delaying delivery of new jets as it waits for air travel to recover from the pandemic.
American Airlines posts $1.25 billion loss, delays new jets
April 22, 2021 GMT
FILE - In this July 17, 2019 file photo American Airlines planes are parked on the tarmac at Phoe.
FILE - In this July 17, 2019 file photo American Airlines planes are parked on the tarmac at Phoe.
FORT WORTH, Texas (AP) American Airlines said Thursday that it lost $1.25 billion in the first quarter and continued to slash costs, including delaying delivery of new jets as it waits for air travel to recover from the pandemic.
Chairman and CEO Doug Parker said the airline continues to see signs that demand for tickets is improving.
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American Airlines posts US$1.25 billion loss, delays new jets
FILE - In this July 17, 2019 file photo American Airlines planes are parked on the tarmac at Phoenix Sky Harbor International Airport in Phoenix. American Airlines Group Inc. (AAL) on Thursday, April 22, 2021, reported a loss of US$1.25 billion in its first quarter. (AP Photo/Ross D. Franklin, File)
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FORT WORTH, Texas: American Airlines said Thursday (Apr 22) that it lost US$1.25 billion in the first quarter and continued to slash costs, including delaying delivery of new jets as it waits for air travel to recover from the pandemic.