American Q3 net profit down 56.5%; plans conservative capacity growth
American Airlines reported Q3 2016 net income of US$737m, down 56.5% from a net profit of $1.7b in the prior-year period, and is planning conservative capacity growth through 2017. The airline pointed out that pre-tax net income excluding special items was $1.5b, but earnings on that basis were still $400m lower year-over-year. Chairman and CE Doug Parker said that “while [earnings] are down, they’re still the second-best Q3 results in American’s history after only last year’s Q3.” Unit revenue, as measured in RASM, was down 2.2% year-over-year in Q3 to 14.73 cents, but Parker noted that RASM was up year-over-year for the month of September. “The [unit revenue] trend’s good and it appears to be continuing,” he said. September marked the first month of positive RASM growth for American since November 2014. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-21/oneworld/american-q3-net-profit-down-56-5-plans-conservative-capacity-growth
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American Q3 net profit down 56.5%; plans conservative capacity growth
American Airlines reported Q3 2016 net income of US$737m, down 56.5% from a net profit of $1.7b in the prior-year period, and is planning conservative capacity growth through 2017. The airline pointed out that pre-tax net income excluding special items was $1.5b, but earnings on that basis were still $400m lower year-over-year. Chairman and CE Doug Parker said that “while [earnings] are down, they’re still the second-best Q3 results in American’s history after only last year’s Q3.” Unit revenue, as measured in RASM, was down 2.2% year-over-year in Q3 to 14.73 cents, but Parker noted that RASM was up year-over-year for the month of September. “The [unit revenue] trend’s good and it appears to be continuing,” he said. September marked the first month of positive RASM growth for American since November 2014. <br/>
