BEAUTY IN THE FRIDGE

News: American prepares for recovery after challenging first quarter

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American Airlines has reported first-quarter revenue of $4 billion, down 53 per cent year-over-year.

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At the same time, total available seat miles saw a 39 per cent year-over-year reduction.

“Looking forward, with the momentum underway from the first quarter, we see signs of continued recovery in demand,” said American chief executive, Doug Parker.

“We remain confident the network enhancements, customer-focused improvements and efficiency measures we’ve put into place will ensure American is well-positioned for the recovery.”

First-quarter net losses at the carrier totalled $1.3 billion, or ($1.97) per share.

American said it ended the first quarter with approximately $17.3 billion of total available liquidity.

The company expects to end the second quarter with approximately $19.5 billion in total available liquidity.

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