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Cargo revenue was up 18.8 percent to USD227 million due primarily to a 10.9 percent increase in volume Cargo revenue was up 18.8 percent to USD227 million due primarily to a 10.9 percent increase in volume

American Airlines Group Reports Q1 Profit

American Airlines Group reported its first-quarter (Q1), which included pre-tax profit of USD273 million, or USD468 million excluding net special items and a first-quarter net profit of USD186 million.

Within the Q1 earnings was USD0.39 per diluted share or USD0.75 per diluted share excluding net special items.

The airline returned USD498 million to shareholders, including the repurchase of 8.4 million shares and dividend payments of USD48 million.

Announced a new USD2 billion share repurchase authorisation to be completed by December 31, 2020.

“American’s team members continue to deliver solid results, including record first quarter revenue performance. Higher fuel prices led to a decline in year-over-year earnings, but we are excited about the future,” said Doug Parker, chairman, American Airlines. “With the youngest fleet in the industry among our large network peer competitors, a significantly improved product, and a team of 130,000 who demonstrate extraordinary care for our customers, we are well positioned for long-term success.”

At the same time, robust demand for air travel drove a 5.9 percent year-over-year increase in first-quarter 2018 total revenue, to a first quarter record USD10.4 billion.