American Airlines Q2 cargo revenue flat at $328mn
For the first half of the year, cargo revenue was up nearly 8 percent to $692 million from $641 million in H12021.
American Airlines reported a marginal increase (0.5 percent) in cargo revenue at $328 million for the second quarter ended June 30, 2022 compared to $326 million in Q22021.
While cargo tonne miles declined nearly 10 percent to 500 million, cargo yield per tonne mile (in cents) increased 11 percent to 65.58 from 58.86.
For the first half of the year, cargo revenue was up nearly 8 percent to $692 million from $641 million in H12021.
Total operating revenue for the second quarter increased almost 80 percent to $13.4 billion on nearly 90 percent increase in passenger revenue to $12.2 billion.
For H12022, operating revenue zoomed over 94 percent to $22.3 billion.
American Airlines reported a profit of $476 million in Q22022 compared to $19 million in Q22021. For the first half of the year, loss declined to $1.1 billion from $1.2 billion in H12021.
"We are very pleased to report a quarterly profit, excluding net special items, for the first time since the start of the pandemic, driven by the strong demand environment and the hard work of our team," says CEO Robert Isom. "The American Airlines team has stepped up to meet the surge in demand for air travel while running a reliable operation in very challenging conditions. We are encouraged by the trends we're seeing across the business, and we remain well-positioned for the continued recovery."
The airline ended the second quarter with $15.6 billion of total available liquidity, and the company continues to execute on its plan to pay down approximately $15 billion of total debt by the end of 2025, the statement said.
