American Airlines earned $476 million in the second quarter on record-high revenue. These profits spark the interest of many globally, as they’re coming at a time when airlines worldwide have been struggling with staff shortages, high costs, and more.
These numbers are American Airlines’ first quarterly profit without government pandemic-related assistance. Still, American Airlines exceeded Wall Street’s expectations of approximately $13.4 billion in total revenue by reaching $13.42 billion.
Despite the ongoing issues, American Airlines remained successful last quarter and hopes to repeat that in the third quarter, ending in September. The Fort Worth-based airline expects revenue to reach up to 12% higher than in 2019 during this third quarter, even though capacity levels are 10% lower than those set in 2019.
The Airline said it expects to see more corporate and international travel, which is slowly returning; an increase in such travel will add much more revenue as corporate and international travel act as a vital part of American Airlines’ business.
As the public is faced with travel chaos, it’s important to note that American was not the only Airline to break records last quarter; United Airlines, Delta Air Lines, and Alaska also announced record numbers.
As all these airlines are riding high, they set their intentions to keep increasing their profits going into the third quarter.