American Airlines (NASDAQ: AAL) posted a $2.7 billion pretax loss for the second quarter, ending June 30, on a nearly $10 billion drop in revenue from last year.
American Airlines CEO Doug Parker called the second quarter of 2020 “one of the most challenging” in the Fort Worth, Texas-based airline’s history.
“There is much uncertainty ahead, but we remain confident we will emerge from this crisis more agile and more efficient than ever before,” he said in a statement.
Parker said American spent the second quarter shoring up liquidity, conserving cash and focusing on safety.
American’s total revenue for the second quarter reached $1.6 billion, down 86% compared to the prior year. Cargo revenue for the quarter ended at $130 million, falling 41% compared to the same period in 2019.
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The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now