American earns record $932 million first quarter profit
Source: Fort Worth Star-Telegram
American Airlines reported a first quarter profit of $932 million, beating its record of $480 million earned in the first quarter of 2014.
We are pleased to report record first quarter profits, exceeding the prior record set just last year, said American chief executive Doug Parker in a statement. We are particularly pleased with the integration achievements our team has realized and look forward to building on those successes through 2015 and beyond.
However, the Fort Worth-based carriers revenues dropped 1.7 percent to $9.82 billion for the quarter due to competitive capacity growth and economic softness in Latin America. American has had to compete with Southwest Airlines adding dozens of new routes out of Dallas Love Field since the expiration of the Wright Amendment restrictions last fall.
The carrier cut capacity by 1.7 percent and its load factor declined 0.3 percentage points to 80.3 percent. Unit revenues also declined 2 percent in the quarter.
Read more here: http://www.star-telegram.com/news/business/aviation/sky-talk-blog/article19364811.html#storylink=cpy
Read more: http://www.star-telegram.com/news/business/aviation/sky-talk-blog/article19364811.html
geomon666
(7,512 posts)Isn't that standard operating procedure? Profits fall, raise the rates. Profits rise, raise the rates.
Spitfire of ATJ
(32,723 posts)AngryDem001
(684 posts)Spitfire of ATJ
(32,723 posts)Thus allowing them to print more shares.
Well,....electronically.
I don't think they even do paper stock certificates anymore.
Just to be sure, let me Google that....
Okay,...that was weird.
Plucketeer
(12,882 posts)for Mr. Parker! Now if we can just convince our labor force of what a DIRE financial situation we find ourselves immersed in!
Skittles
(153,111 posts)spartan61
(2,091 posts)They don't get profit sharing. Not sure about the other work groups.
appalachiablue
(41,103 posts)coffeenap
(3,173 posts)oh wait, never mind.
Chakaconcarne
(2,433 posts)We weren't aware of that... Sorry. We'll get right on dropping those prices for you.
kacekwl
(7,013 posts)we don't have those pesky unions any more. A great example of how removing regulations help the middle class.