American Airlines reports lower Q2 profit as revenue rises
American Airlines Group posted Q2 net income of USD 71 million, down 88.2%, as operating income fell 60.7% to USD 446 million.
Revenue rose 16.3% to USD 16.74 billion, driven by passenger revenue up 15.9% to USD 15.21 billion.
Operating expenses climbed 22.9% to USD 16.29 billion, led by aircraft fuel and related taxes up 83.3% to USD 4.88 billion.
Total available liquidity was USD 11.28 billion at June 30, including USD 7.78 billion in cash and short-term investments.
Completed USD 914 million of fuel financing repayments, prepaid USD 1 billion of 8.50% senior secured notes, and raised about USD 2.7 billion via aircraft and engine financings.
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