Joe Raedle/Getty Images(FORTH WORTH, Texas) — American Airlines reported record quarterly earnings Thursday, detailing a net profit of $1.5 billion — a record for any quarter in company history, according to airline representatives.
The American Airlines Group announced a record GAAP net profit of $864 million, compared to $220 million in the second quarter of 2013, which was prior to its merger with US Airways.
“We are very pleased to report the highest quarterly profit in the history of American Airlines,” said Chairman and CEO Doug Parker. “Our merger is off to a great start and our 100,000 team members are doing a wonderful job working together to take care of our customers.”
The company also publicized a capital deployment program aimed at reducing its debt and providing additional pension contributions, as well as returning capital to shareholders.
“The fact that we are able to implement this program while still funding our significant product improvements, fleet renewal program and integration costs is further evidence of the success of our merger,” Parker added. “We have much hard work ahead, but we are extremely encouraged by the great work being done by our team members.”
Other airlines also shared in the wealth, as United Airlines announced a nearly $800 million profit for its second quarter. Delta, JetBlue, and Southwest also reported strong gains.
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