American Airlines Group Inc. announced its financial outcomes for the first quarter of 2024, revealing a strong operational performance despite challenges, along with financial stability and a solid foundation for future growth.
Operational Highlights:
American Airlines achieved its best first-quarter completion rate to date, demonstrating operational excellence. This success came even amidst challenges such as air traffic control issues and significant weather disruptions. The airline also saw improvements in its mishandled baggage rates compared to last year.
Financial Insights:
Despite rising fuel costs, American Airlines maintained its financial performance within its projected ranges for all operational metrics. The company reported a first-quarter GAAP operating margin of 0.1%, which adjusts to 0.6% when excluding specific items.
Balance Sheet Focus:
American continues to prioritize strengthening its balance sheet. This quarter, it reduced its total debt by nearly $950 million, surpassing $12 billion or more than 80% of its $15 billion debt reduction target by the end of 2025.
Forward-looking Statements:
Looking ahead, American anticipates its adjusted earnings per diluted share for the second quarter of 2024 to range between $1.15 and $1.45, based on current demand and fuel prices, excluding special items. The company also maintains its forecast for full-year adjusted earnings per share to be between $2.25 and $3.25.
