After merger, American Airlines and US Airways post first-quarter profit of $480 million
DALLAS – American Airlines is making money again and beating expectations after its merger with US Airways.
The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost $297 million a year earlier.
The profit works out to 65 cents per share, easily topping analyst projections for 48 cents per share.
Revenue rose 5.6 per cent to $10 billion, just below analyst forecasts of $10.02 billion.
American Airlines Group Inc., formed by the December merger, is the largest airline in the world.
Shares of the Fort Worth, Texas, carrier are higher in premarket trading.
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