American Airlines posts $483 million profit for summer travel season

The main entrance to the Robert W. Baker Integrated Operations Center at the new American Airlines campus and headquarters in Fort Worth.The three biggest U.S. airlines enjoyed a boffo summer, reaping a combined profit of more than $2 billion as Americans jammed on to planes despite fares that were sharply higher than a year ago.Fort Worth-based American Airlines said Thursday that it earned $483 million on record-breaking revenue that more than offset higher fuel costs in the third quarter.

“American’s third-quarter results, including our record revenue performance, are significant considering the macroeconomic uncertainty facing so many people,” CEO Robert Isom said on a call with analysts and reporters. “Demand remains strong.” American said it plans to run at 95% to 100% of 2019 levels next year. That is in line with Delta, which expects to restore its full schedule by next summer. United recently announced it will expand European flying next summer.

For the third quarter, American said its adjusted profit, which excludes certain items, was 69 cents per share, compared with a forecast of 54 cents per share by analysts surveyed by FactSet.

So after taking billions in bailouts again from taxpayers, what has AmericanAir given to the flying taxpayers in return? Fees are up, services lowered, but they rake in $483 million in profit for a quarter. Time to stop bailing out big corporations.

They went from Best to bottom 5 WORST. Can't believe they made a profit.

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