American Airlines Group (NASDAQ: AAL) announced fourth-quarter 2022 financial results on Thursday, reporting a sharp increase in revenues. The company turned profit from a loss last year.
Total operating revenues were $13.2 billion, up 40% from the prior-year period. The company continues to execute its plan to pay down $15 billion of total debt by the end of 2025.
The company reported a net income of $803 million or $1.14 per share for the fourth quarter, compared to a loss of $931 million or $1.44 per share last year. On an adjusted basis, earnings were $1.17 per share, compared to a loss of $1.42 per share in Q4 2021.
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American’s CEO Robert Isom said, “we committed to running a reliable operation and returning to profitability, and our team is delivering on both. We’re proud to have led the industry in operational performance over the holidays while producing record full-year and fourth-quarter revenues, resulting in a third consecutive quarterly profit and a profit for the full year.”
