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22-Jul-2010 1:21 PM

American Airlines reports operating profit in 2Q2010, net loss narrows

American Airlines revenue up 16% - consolidated financial/traffic highlights:

  • Three months ended 30-Jun-2010:
    • Total operating revenue: USD5,674 million, +16.0% year-on-year;
    • Total operating costs: USD5,478 million, +7.1%;
      • Labour: USD1,714 million, +0.9%;
      • Fuel: USD1,655 million, +24.1%;
      • Landing fees and other rentals: USD352 million, +3.9%;
    • Operating profit: USD196 million, compared with a loss of USD226 million in p-c-p;
    • Net profit (loss): (USD11 million), compared with a loss of USD390 million in p-c-p;
    • Mainline operating highlights:
      • Passenger traffic (RPMs): +2.1%;
      • Passenger load factor: 83.9%, +2.0 ppts;
      • Passenger yield: USD 13.28 cents, +14.0%;
      • Passenger revenue per ASM: USD 11.14 cents, +16.8%;
      • Cargo yield: USD 35.67 cents, +6.4%;
      • Operating costs per ASM: USD 12.62 cents, +7.3%;
  • Six months ended 30-Jun-2009:
    • Total operating revenue: USD10,742 million, +10.4%;
    • Total operating costs: USD10,844 million, +6.8%;
      • Labour: USD3,417 million, +0.9%;
      • Fuel: USD3,131 million, +19.0%;
      • Landing fees and other rentals: USD704 million, +6.3%;
    • Operating profit (loss): (USD102 million), compared with a loss of USD420 million in p-c-p;
    • Net profit (loss): (USD516 million), compared with a loss of USD765 million in p-c-p;
    • Mainline operating highlights:
      • Passenger traffic: +1.3%;
      • Passenger load factor: 80.9%, +2.1 ppts;
      • Passenger yield: USD 13.31 cents, +8.9%;
      • Passenger revenue per ASM: USD 10.78 cents, +11.8%;
      • Cargo yield: USD 35.04 cents, -3.0%;
      • Operating costs per ASM*: USD 12.76 cents, +8.2%;
    • Net debt: USD11,001 million, -3.2%;
  • 3Q2010 forecast:
    • Costs per ASM: +2.0%;
      • Mainline: +1.7%;
    • Costs per ASM excl fuel: stable;
      • Mainline: -0.1%;
  • FY2010 forecast:
    • Costs per ASM: +4.1%;
      • Mainline: +4.0%;
    • Costs per ASM excl fuel: +1.2%;

*Excludes USD1.3 billion and USD1.2 billion of expense incurred related to Regional Affiliates in 2010 and 2009, respectively

American Airlines: “AMR expects mainline capacity in the third quarter of 2010 to increase by 3.0% compared to the third quarter of 2009, with domestic capacity expected to be up 0.3% and international capacity expected to be up 7.3% compared to third quarter 2009 levels. AMR expects consolidated capacity in the third quarter of 2010 to increase by 3.4% compared to the third quarter of 2009. AMR expects its full-year mainline capacity to increase by 0.9% in 2010 compared to 2009, with domestic capacity down 0.1% and an increase of international capacity of 2.4% compared to 2009 levels. On a consolidated basis, AMR expects full-year capacity to increase by 1.2% in 2010 compared to 2009,” Company statement. Source: American Airlines, 21-Jul-2010.

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