American Airlines announced on Tuesday that it had taken advantage of the recovery in air traffic in the United States to restore positive cash flow in the second quarter for the first time since the start of the pandemic.
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The company, which burned up to $ 100 million per day at the start of the spread of Covid-19, managed to release $ 1 million, net, daily from April to June, details a press release.
“We ended the second quarter with over $ 21 billion in total available cash, by far the highest amount in American history
,
” said
Doug Parker, Managing Director, and Robert Isom, Head of operations in the United States, in a message to employees.
The company, which will release its final quarterly results on July 22, still expects second-quarter revenue down 37.5% compared to the same period in 2019, before the pandemic.
Including an exceptional tax gain, the company anticipates a result ranging between a net loss of 35 million and a net profit of 25 million.
Adjusted for this exceptional item, its loss should be between $ 1.1 billion and $ 1.2 billion.
Better than expected turnover
But the turnover is better than expected, the officials said in their post.
"We are clearly moving in the right direction."
The company expected a turnover down 40%, they recall. And the adjusted loss, while still significant,
"is the lowest since the start of the pandemic,"
officials add. American stock, which fell nearly 4% in the official Wall Street session on Tuesday, rose about 1.5% in electronic trading after the release of the new figures.
The vaccination campaign against Covid-19 in the United States has allowed the economy to gradually reopen. And Americans are back to traveling: the number of passengers screened by the Transport Security Agency (TSA) remains between 15% and 20% lower than before the pandemic but now regularly exceeds 2 million per day .
