American sees cargo revenue decline but reports record quarterly profit overall
24 / 07 / 2015
American Airlines Group saw cargo revenues decline during the second quarter of the year but the overall airline recorded profits for the period.
The airline group’s cargo revenue during the second quarter declined to $194m compared with $221m a year earlier, while demand slid by 0.2% year on year to 594 cargo tonne miles.
Yields were also down, declining to 32.62 cents per tonne mile compared with 37.16 cents a year ago.
It said the decline in revenues and yields was down to the devaluation of certain foreign currencies.
Overall, the group recorded a record quarterly net profit of $1.9bn, excluding net special charges, a 27% increase on a year earlier. The results come as American Airlines continues to integrate operations with US Airways.
Chairman and chief executive Doug Parker said: "Reporting the highest quarterly profit in our history is another indication that our team is on the path to restoring American as the greatest airline in the world.
"These results are especially remarkable considering the significant and successful work underway to integrate two airlines.
“The more than 100,000 dedicated team members of American Airlines are doing a phenomenal job and we are grateful for their commitment to our customers."