American operating profit declines as labour costs rise in 4Q2016, sees unit revenue improvement

American Airlines Group revenue up 2% - financial highlights:

• Three months ended 31-Dec-2016:
• • Total operating revenue: USD9789 million, +1.7% year-on-year;
  • • Mainline passenger: USD6717 million, -0.3%;
    • Regional passenger: USD1630 million, +4.1%;
    • Cargo: USD194 million, +1.3%;
  • Total operating costs: USD9022 million, +5.4%;
  • • Labour: USD2796 million, +17.4%;
    • Fuel: USD1335 million, +1.6%;
  • Operating profit: USD767 million, -28.3%;
  • Net profit: USD289 million, -91.2%;
  • Passengers: 48.0 million, -3.1%;
  • Passenger load factor: 81.4%, -1.3 ppt;
  • Passenger yield: USD 15.62 cents, +1.8%;
  • Passenger revenue per ASM: USD 12.71 cents, +0.2%;
  • Total revenue per ASM: USD 14.90 cents, +1.3%;
  • Cargo yield: USD 28.97 cents, -9.6%;
  • Operating cost per ASM: USD 13.74 cents, +5.0%;
  • Cost per ASM excl fuel and special items: USD 10.84 cents, +8.5%;
• 12 months ended 31-Dec-2016:
• • Total operating revenue: USD40,180 million, -2.0%;
  • • Mainline passenger: USD27,909 million, -3.9%;
    • Regional passenger: USD6670 million, +3.0%;
    • Cargo: USD700 million, -7.9%;
  • Total operating costs: USD34,896 million, +0.3%;
  • • Labour: USD10,890 million, +14.4%;
    • Fuel: USD5071 million, -18.5%;
  • Operating profit: USD5284 million, -14.8%;
  • Net profit: USD2676 million, -64.8%;
  • Passengers: 198.7 million, -1.3%;
  • Passenger load factor: 81.7%, -1.3 ppt;
  • Passenger yield: USD 15.47 cents, -2.8%;
  • Passenger revenue per ASM: USD 12.65 cents, -4.3%;
  • Total revenue per ASM: USD 14.70 cents, -3.7%;
  • Cargo yield: USD 28.89 cents, -12.0%;
  • Operating cost per ASM: USD 12.76 cents, -1.4%;
  • Cost per ASM excl fuel and special items: USD 10.24 cents, +4.8%;
  • Total assets: USD51,274 million;
  • Cash and short-term investments: USD6359 million. [more - original PR]

American Airlines Group: "Our product investments are showing up in our unit revenue performance. We had the largest improvement in unit revenue among our competitors and as we look forward, we continue to see strong demand for air service, and improving yields," Doug Parker, Chairman and CEO. Source: Company statement, 27-Jan-2017.