American Airlines has announced its financial results for the second quarter of 2023 and, unsurprisingly, following in the footsteps of other primary U.S. carriers, has reported record-breaking results.
The airline was that it saw quarterly revenue standing at USD 14.1 billion, which represents an increase of some 4.7% in comparison to the second quarter of the year prior. The figure of 14.1 billion is also a record for the company and represents the continued rebuild of the industry and the rising demand present.
Net income for the second quarter was at USD 1.3 billion, too, with a generated operating cash flow of USD 1.8 billion and a free cash flow of USD 1.2 billion.
It was another fantastic quarter for American, driven by the hard work of our team to deliver a reliable operation for our customers and the continued strong demand for our product. Our operation is performing at historically strong levels, and we have worked to refresh our fleet and build a comprehensive global network, all of which helped to produce record revenues in the second quarter. We will build on this momentum the rest of the year and continue to prioritize reliability, profitability, accountability and strengthening our balance sheet.American’s CEO Robert Isom.
American Airlines said it operated nearly 500,000 flights across its mainline and regional partners with an average load factor of 86%, meaning the company delivered strong operational performances. It also experienced its largest-ever mainline Memorial Day weekend too. In contrast to previous years where struggles may have been present, they generally kept an excellent on-time performance and completion rate.