American Airlines (NASDAQ: AAL), reported positive fourth-quarter earnings with revenue coming in at the highest since the pandemic began. Nevertheless, it still posted a loss amid the spread of the omicron variant and its impact on the travel industry.
“Over the past year, we have experienced periods of high travel demand countered by periods of decreased demand due to new COVID-19 variants,” American’s CEO, Doug Parker, who steps down at the end of March, said in an earnings release Thursday. “This volatility has created the most challenging planning environment in the history of commercial aviation.”
The carrier reported an earnings loss of USD1.42 per share, compared to the expected USD1.48 a share. Revenue amounted to USD9.43 Billion, higher than analysts anticipated USD9.38 Billion.
American expects first-quarter revenue to be off anywhere from 20% to 22% from the same period of 2019 when it produced USD10.6 Billion in sales. Furthermore, it foresees capacity for the first three months will be 90% to 92% restored.
“As we close out the second year of operating in a global pandemic, we are incredibly proud of the American Airlines team,” Parker said. “Yet the American team has delivered, growing back faster and further than any other U.S. airline to meet this unpredictable demand. Looking ahead, I’m excited about the future of American with Robert Isom as its new CEO. While we still have work to do as the recovery from the pandemic continues, I have no doubt the best is yet to come for American.”