American Airlines continues its strong performance in 2023, as its second-quarter results were released earlier this week.
The airline has posted the following highlights from that period this year:
- Record quarterly revenue of $14.1 billion, a 4.7% increase year over year.
- Second-quarter net income of $1.3 billion, or $1.88 per diluted share. Excluding net special items1, second-quarter net income of $1.4 billion, or $1.92 per diluted share.
- Generated operating cash flow of $1.8 billion and free cash flow of $1.2 billion in the second quarter.
- Ended the quarter with $14.9 billion of total available liquidity.
- Raising full-year adjusted EPS2 guidance to between $3.00 and $3.75 per diluted share.
- Credit rating upgraded two notches to B+ by Fitch.
American Airlines CEO: Operations Performing Strongly…
Commenting on the results was American Airlines CEO, Robert Isom:
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“It was another fantastic quarter for American, driven by the hard work of our team to deliver a reliable operation for our customers and the continued strong demand for our product”.
“Our operation is performing at historically strong levels, and we have worked to refresh our fleet and build a comprehensive global network, all of which helped to produce record revenues in the second quarter.”
“We will build on this momentum the rest of the year and continue to prioritize reliability, profitability, accountability, and strengthening our balance sheet.”
On the debt front, American Airlines has been making strong efforts to reduce this, with it coming down by $387 million in 2Q23.
The airline remains on track to reduce its total debt by $15bn by the end of 2025, which shows how significant its performance is currently at the moment.
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