American Airlines posted a fourth-quarter net loss of $2.2 billion or ($3.81) per share, better than expected $3.86 loss per share, according to the company’s press release. The full-year net loss was $8.9 billion or ($18.36%) per share.
- Fourth-quarter revenue was $4.0 billion, down 64% year over year on a 53% year-over-year reduction in total available seat miles (ASMs).
- American Airlines ended the fourth quarter with about $14.3 billion of total available liquidity.
- The company expects to end the first quarter of 2021 with about $15.0 billion in total available liquidity.
- American Airlines incorporated more than $1.3 billion of permanent non-volume, non-fuel efficiency cost-saving measures into the 2021 operating plan.
- The airline expects its first-quarter system capacity to be down 45%, with total revenue expected to decline 60-65%.
- American Airlines also established innovative partnerships with Alaska Airlines and JetBlue Airways to create the best and largest network for customers on the West Coast and in the Northeast.
American Airlines stock was gaining AAL: NASDAQ +9%
