American Airlines Earnings: Another Subpar Quarter
On Thursday, American Airlines (NASDAQ: AAL) reported a small pre-tax profit for the second quarter -- thanks to the $1.4 billion of government payroll-support grants that it booked for the quarter. Returning to profitability under any terms represents a step in the right direction for the struggling airline giant.
Nevertheless, American Airlines continues to post poor results by any objective standard. Moreover, its long-running margin deficit, compared to the rest of the industry, remains firmly intact.
American Airlines' revenue surged 87% sequentially last quarter and more than quadrupled year over year, reaching $7.5 billion. That said, the carrier generated $12 billion of revenue in the same period two years ago.
Source Fool.com
