American Airlines Hails 'Exceptionally Strong' 2023 Performance

Publish Time:2024-01-29 15:16:30Source:Travel Weekly

【Introduction】:American Airlines produced record revenue of almost $53 billion as it's recorded an "exceptionally strong" performance in 2023.

American Airlines produced record revenue of almost $53 billion as it's recorded an "exceptionally strong" performance in 2023.

Full-year net profits of $822 million compared with $127 million in 2022.

The airline and its regional partners operated nearly two million flights last year, with an average load factor of 83.5%. 

The British Airways transatlantic partner achieved its best-ever fourth-quarter and full-year flight completion factor, with the lowest number of cancellations annually since the merger with US Airways in 2013.

The strong operational momentum continued through the end-of-year holiday travel period. 

American hailed its best-ever flight completion factor and on-time departures as well as its lowest mishandled baggage rate over the peak travel period.

The carrier cut total debt by more than $500 million in the fourth quarter and by about $3.2 billion in the full year. 

"The company is more than 75% of the way to its goal of reducing total debt by $15 billion by the end of 2025," American said. 

Total debt had been reduced by $11.4 billion by the end of the year from peak levels in mid-2021.

Chief executive Robert Isom said: "The American Airlines team produced an exceptionally strong performance in 2023. 

"We are delivering on our commitments and remain well-positioned for the future, supported by the strength of our network and travel rewards programme, our young and simplified fleet, our operational reliability, and our outstanding team. 

"As we look forward, we remain focused on delivering a reliable operation for our customers and re-engineering the business to build an even more efficient airline."

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