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Travel demand has surged thanks to speedy
COVID-19 vaccinations and easing restrictions across the globe.
Airlines are now recalling crew on voluntary leave and
recruiting new employees ahead of the holiday season.
The airline reported positive cash flow in the second quarter
for the first time since the pandemic began, reversing a trend
of cash burn of about $100 million a day when global travel had
ground to a halt.
The airline reported a cash build rate of about $1 million per
day in the second quarter.
Excluding items, the company posted a second-quarter net loss of
$1.1 billion, or $1.69 per share.
The U.S airline posted a net income of $19 million, or 3 cents
per share, in the quarter ended June 30, compared with a loss of
$2.07 billion, or $4.82 per share, a year earlier.
Total operating revenue jumped 361% to $7.48 billion. Analysts,
on average, expected a revenue of $7.34 billion, according to
Refinitiv data.
American ended the second quarter with about $21.3 billion of
total available liquidity.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh
Kuber)
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