American Airlines Group (NASDAQ: AAL) reported a $9.4 billion revenue in the fourth quarter of 2021. The net loss in the same quarter came to around $931 million, representing $1.44 per share. When net special items were excluded, the net loss was less than $10 million, coming to $921 million.
Net loss for the whole financial year was $2 billion, representing $3.09 per share. Net special items exclusion brought the amount to $5.4 billion. The airline carrier successfully transported over 160 million passengers this year, more than all of its competitors in the United States.
American Airlines’ Chief Executive Officer and Chairman, Doug Parker, said that they’re very proud of what their team was able to achieve.
Mr. Parker said that even though new COVID-19 variants affected the consistency of travel demands and helped create the most complex planning environment ever before, their team still delivered and helped them beat all the other airlines in the region. Mr. Parker said:
Looking ahead, I’m excited about the future of American with Robert Isom as its new CEO. While we still have work to do as the recovery from the pandemic continues, I have no doubt the best is yet to come for American.
American’s incoming Chief Executive Officer and President, Robert Isom, said:
Looking forward, our focus in 2022 will be to continue running a reliable airline, returning to profitability, and delivering on our long-term plan to deleverage the balance sheet.
American Airlines is focusing its efforts on strengthening its business efforts and achieving profitability by concentrating on three specific objectives: creating world-class customer experiences, building upward so that the airline thrives forever, and taking competitive advantage of culture.
Creating world-class experiences
One of the ways American is looking to create world-class customer experiences is by expanding its NEA (Northeast Alliance) with JetBlue with the goal of providing members of the TrueBlue Mosaic and AAdvantage loyalty programs with elite benefits when they use either airline to travel.
This year, customers will get a chance to enjoy even more benefits from the Northeast Alliance, including a strong international network, lie-flat seating functionality on all transcontinental routes, and more flight options in many different markets. The airline is looking to grab the top spot in the region.
The post American Airlines announces its fourth-quarter financials for 2021 appeared first on Invezz.