FORT WORTH (WBAP/KLIF News ) – American Airlines posted a third-quarter loss of $545 million and trimmed its profit forecast for the year.
The airline posted a revenue of $13.48 billion in the period, which fell short of Wall Street forecasts.
In an earnings call Thursday morning, American CEO Robert Isom boasted about the airline’s more than 515,000 flights this quarter.
“We produced out best ever third-quarter completion factor of 98.6%. American ended the quarter with the best completion factor of U.S. network carriers while maintaining our first place standing in on time departures through the first nine months of the year,” he said.
Chief Financial Officer Devon May said the company stayed focused despite a sharp increase in jet fuel prices.
“In the third quarter, we delivered a fantastic operation for our customers, we finalized a new contract for our pilots and we took further action to strengthen our balance sheet,” he said.
American says it had a loss of 83 cents per share. When adjusted for non-recurring costs, earnings were 38 cents per share.
The carrier’s shares have decreased 11% since January and its stock has declined 17% in the last twelve months.
Click here to read the full third quarter earnings report.
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