American Airlines Group reports net profit of US$289m in the fourth quarter 2016

American Airlines Group reported a net profit of US$289m in the fourth quarter 2016. The Company’s fourth quarter 2016 results include a US$211m provision for income taxes, of which US$207m is non-cash due to net operating loss utilization. This compares to a GAAP net profit of US$3.3bn in the fourth quarter 2015, which included a non-cash US$3.0bn net special income tax benefit resulting from the reversal of the Company’s valuation allowance. The Company reported a full year 2016 GAAP net profit of US$2.7bn including a non-cash income tax provision of US$1.6bn. This compares to a GAAP net profit of US$7.6bn in 2015 which included the US$3.0bn non-cash income tax benefit. Adjusted fourth quarter 2016 earnings per diluted share was US$1.48, down from US$2.00 per diluted share in the fourth quarter of 2015. Full year 2016 adjusted earnings per diluted share was US$9.10, down US$0.02 compared to 2015.