American Air net income rises 80%
(MENAFN) American Airlines Group, the world's largest carrier, said yesterday its third-quarter profit jumped, beating analysts' expectations.
American reported net income of $1.7bn in the quarter, up 80% from a year ago as the price of oil has plummeted. It earned $1.9bn, excluding charges, or $2.77 per diluted share. On that basis, the average analyst estimate was $2.72 per share, according to Thomson Reuters I/B/E/S.
The company said it would buy back another $2bn of its stock.
On Friday, the company said the reservations 'cutover' was successful, reporting 'no operational impact' in a process that had led to widespread delays at rival United Continental Holdings.
American reported net income of $1.7bn in the quarter, up 80% from a year ago as the price of oil has plummeted. It earned $1.9bn, excluding charges, or $2.77 per diluted share. On that basis, the average analyst estimate was $2.72 per share, according to Thomson Reuters I/B/E/S.
The company said it would buy back another $2bn of its stock.
On Friday, the company said the reservations 'cutover' was successful, reporting 'no operational impact' in a process that had led to widespread delays at rival United Continental Holdings.
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