July 23, 2020

American Airlines reports 2Q loss as COVID-19 hits demand

New York (AFP) – American Airlines became the latest US carrier to report a hefty second-quarter loss, but said it made progress in reducing cash burn, according to results released Thursday. The company suffered a $2.1 billion loss in the quarter ending June 30, compared with profits of $662 million in the year-ago period.Revenues plunged 86.4 percent to $1.6 billion behind a steep drop in customer traffic.”This was one of the most challenging quarters in American’s history,” said Chief Executive Doug Parker. “We have moved swiftly to improve our liquidity, conserve cash and ensure customers …

source https://this.kiji.is/en/659001964085773409?c=648607265489716321

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