March 4, 2024

An American Airlines Boeing 787-9 Dreamliner lands at Miami International Airport on December 10, 2021.

Joe Raeder | Getty Images

American airlines It turned in a $10 million profit in the first quarter as it ramped up flights, and revenue growth outweighed higher costs.

American’s revenue rose 37% to $12.19 billion in the first three months of the year, roughly in line with analysts’ estimates.

This is the American Airlines way implement The first quarter compared with Wall Street expectations, according to the average analyst estimate compiled by Refinitiv:

  • Adjusted earnings per share: 5 cents vs expected 5 cents
  • Total revenue: $12.19 billion vs. $12.20 billion expected

Revenue was $12.19 billion, up 37% from the same period last year. The airline’s net income for the quarter was $10 million, or 2 cents a share, a marked improvement from the first quarter of 2022, when American lost $1.64 billion, or $2.52 a share.

Excluding charges related to debt refinancing, American Airlines earned an adjusted 5 cents a share in the first quarter, in line with analysts’ expectations.

For the second quarter of this year, American Airlines forecast adjusted earnings of $1.20 to $1.40 a share, at the high end of analysts’ estimates.

The Fort Worth-based carrier expects revenue per available seat mile to decline 2% to 4% from last year, with capacity up 5.5%.

US Chief Executive Robert Isom said delays by manufacturers in delivering planes were holding back the airline’s growth.

“As far as aircraft manufacturers are concerned, whether it is Boeing and Airbus, they have to do better,” Isom said in an interview on CNBC’s “Squawk Box” on Thursday. “When we don’t get deliveries on time, guess what? We were going out and had to cancel the flight. This affects thousands of customers. “

“We must hold them accountable,” Isom said.