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American Airlines loss narrows on strong holiday travel demand -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A jet belonging to American Eagle (a regional branch) of American Airlines (AA) takes off at Ronald Reagan Washington National Airport, Arlington, Virginia. This is U.S.A. on December 3, 2021. REUTERS/Chris Helgren/File Photograph

(Reuters) -American Airlines Group Inc posted a smaller loss for the fourth quarter on Thursday. This was due to stronger holiday demand.

U.S. carriers benefited from millions of Americans flying in November and December, with the Transportation Security Administration screening https://www.tsa.gov/news/press/releases/2021/12/07/near-pre-pandemic-travel-volumes-expected-continue-through-december nearly 21 million travelers during the 10-day Thanksgiving holiday.

Although Christmas Eve Eve and New Year’s Eve were strong, airlines had to cancel mass flights due to increasing COVID-19 and adverse weather.

The company’s shares were up 1.1% on Thursday before the bell.

American Airlines, Fort Worth (NASDAQ) – American Airlines had increased its capacity and staffing in response to the surge in demand during this key season. The carrying capacity of an aircraft that can generate revenue is the available seat miles. This was 84% more than a year ago.

From $2.2 Billion, which was $3.86 per share a year prior, the airline saw an adjusted loss of $921 Million, or $1.42 per sen.

From $4.03 Billion a year ago, the total operating revenue grew to $9.43Billion.

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