American Airlines Group reports record first quarter 2015 profit

Excluding net special charges, American Airlines Group’s first quarter 2015 net profit was a record US$1.2b. This represents a tripling of the Company’s first quarter 2014 net profit excluding net special credits of US$402m. The Company’s first quarter 2015 pretax margin excluding net special charges was 12.7%, up 8.6 percentage points from the same period last year. On a GAAP basis, the Company reported net profit of US$932m. This compares to a GAAP net profit of US$480m in the first quarter 2014. First quarter 2015 revenue was impacted by competitive capacity growth, a stronger U.S. dollar and economic softness in Latin America. Total revenue in the first quarter was US$9.8bn, a decrease of 1.7% versus the first quarter 2014 on a 0.9% decrease in total available seat miles (ASMs). Consolidated passenger revenue per ASM (PRASM) was 13.44 cents, down 1.7% versus the first quarter 2014. Consolidated passenger yield was 16.82 cents, down 1.2% year-over-year.