From CNBC:

American Airlines reported a $19 million profit in the last quarter of 2023, beating Wall Street expectations for both earnings and revenue. However, this was a significant drop from the $803 million profit in the same period of 2022. The company also expects adjusted losses for the first quarter of 2024. CEO Robert Isom expressed optimism for the coming year despite ongoing industry challenges.’<19'> [29]

Despite exceeding expectations, American Airlines reported a nearly 98% decrease in net income in the fourth quarter of 2023 compared to the previous year. Adjusted earnings per share came in at 29 cents, significantly higher than the 10 cents per share expected by financial analysts. The airline had estimated breaking even in the December period but ended the year strong with a profit. CEO Robert Isom is optimistic about the upcoming year, calling it a busy one for travel.’<19'> [29]

In a letter to American team members, CEO Robert Isom announced that all U.S. and Canada-based employees will receive a profit-sharing payment in March, highlighting the strength of the airline’s business. The positive news for American Airlines comes amid a strong financial performance for other carriers, with United Airlines recently posting higher-than-expected earnings and revenue along with a promising forecast for 2024’https://www.cnbc.com/2024/01/22/united-airlines-ual-q4-2023-earnings.html.’ Airlines have been navigating challenging winter weather, but American Airlines achieved its best-ever on-time departures over the December holidays.’<19'> [29]

American Airlines doesn’t have Boeing 737 Max 9 planes in its fleet, but it does have the 737 Max 8 model, with 20 more planned for this year. However, the FAA has halted Boeing’s ability to increase 737 Max production, which could impact future deliveries of aircraft. CEO Robert Isom expressed frustration with Boeing’s ongoing issues.’<19'> [29]



Read more: American Airlines (AAL) Q4 2023 earnings