News

American Airlines Group Reports “Record” Third-Quarter Profit

By: Caribbean Journal Staff - October 23, 2014 - 8:04 pm

Above: an American Airlines plane in Miami (CJ Photo)

By the Caribbean Journal staff

American Airlines Group reported a record third quarter net profit, the company said in a release on Thursday.

Net profit excluding net special charges was $1.2 billion in the third quarter, up 59 percent over the third quarter of 2013.

American Airlines Group is the result of the merger between American Airlines and US Airways.

The company said it believed it was “more meaningful” to compare year-over-year results for American Airlines and US Airways “excluding special charges and on a combined basis, which is a non-GAAP formulation that combines the results for AMR Corporation and US Airways Group.”

“We are very pleased to have reported a record profit for each quarter so far in 2014,” said American Airlines Group Chairman and CEO Doug Parker. “We anticipate we will also post a record profit for both the fourth quarter and full year 2014. This performance reflects the strength of our merger and the commitment of our team. Our over 100,000 team members are doing an excellent job of integrating our airlines and providing outstanding service to our customers.”

The company also announced that it had taken delivery of 22 new mainline aircraft during the third quarter.

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