American Airlines Group reports highest quarterly profit in company history

For the second quarter 2014, American Airlines Group reported a record GAAP net profit of $864m. This compares to a GAAP net profit of $220m in the second quarter 2013, for AMR Corporation prior to the merger. The Company believes it is more meaningful to compare year-over-year results for American Airlines and US Airways excluding special charges and on a combined basis, which is a non-GAAP formulation that combines the results for AMR Corporation and US Airways Group. On this basis, second quarter 2014 net profit excluding net special charges was $1.5 billion, a record for any quarter in the history of the Company. This represents a 114% improvement over the combined non-GAAP net profit of $681m excluding net special charges for the same period in 2013. Total revenues in the second quarter were a record $11.4bn, up 10.2% versus the second quarter 2013 on a combined basis, on a 3.1% increase in total available seat miles (ASMs).