Photo: Brandon Farris/Airways
American Airlines
American Airlines (AA) reported a first-quarter net loss of US$1.3 bn on a 53 percent dive in revenues (US$4 bn).
However, excluding US$1.95 bn in special credits that included funding from the federal Payroll Support Program (PSP), the net loss was US$2.7 bn. The quarterly load factor was 59.5 percent.
“We remain confident the network enhancements, customer-focused improvements and efficiency measures we’ve put into place will ensure American is well-positioned for the recovery.”
AA incorporated more than US $1.3 bn of permanent cost reductions into its 2021 plans, including deferring and converting five Boeing 787-8 aircraft to the 787-9 models and deferring deliveries of new 737 MAX aircraft to 2023 and 2024.
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