American Airlines Group has released its second-quarter 2022 financial results. American produced revenues of US$13.4 billion in the second quarter, a 12.2% increase versus 2019 and a record for any quarter in company history. This record revenue was achieved while flying 8.5% less capacity than the same period in 2019 and there remains significant revenue potential going forward to the extent business and international travel improve further.
The company posted second-quarter net income of US$476 million. Excluding net special items, second-quarter net income was US$533 million.
American ended the second quarter with US$15.6 billion of total available liquidity. Total debt reduction continues to be a top priority and the company remains on track to reduce overall debt levels by US$15 billion by the end of 2025.
In the second quarter, the company made US$1.0 billion in scheduled debt and finance lease payments, including paying off the remaining US$433 million outstanding balance of its US$750 million unsecured senior notes that matured in June. To date, American has reduced its overall debt by US$5.2 billion from peak levels in the second quarter of 2021.
