FORT WORTH, Texas (AP) — American Airlines is reporting that profits during the second quarter plunged more than 30 percent due in part to rising fuel costs, but it still topped expectations.
The Fort Worth, Texas, airline posted earnings Thursday of $566 million, or of $1.22 per share. Earnings, adjusted for non-recurring costs, came to $1.63 per share, which, according to analysts surveyed by Zacks Investment Research, is 4 cents better than expected.
The world's largest airline posted revenue of $11.64 billion in the period, which is about in line with projections.
American Airlines Group Inc. expects full-year earnings in the range of $4.50 to $5 per share.