Apr 25, 2024 (24/7 Market News via COMTEX) --
DENVER, Colo., Apr 25, 2024 (247marketnews.com)- American Airlines Group's (NASDAQ:AAL) first-quarter 2024 financial results report included record first-quarter revenue of approximately $12.6 billion, operating cash flow of $2.2 billion, free cash flow2 of $1.4 billion, and best-ever first-quarter completion factor.
Reduced total debt by nearly $950 million in the first quarter. The company is now more than 80% of the way to its 2025 total debt reduction goal
American reported a first-quarter net loss of $312 million, or ($0.48) per diluted share, but it reduced its total debt by nearly $950 million in the first quarter and is now more than 80% of the way to its 2025 total debt reduction goal
"The American Airlines team continues to build a reliable, efficient and resilient airline," stated Robert Isom, American's CEO. "While we aren't satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets. Our team is running a fantastic operation, driving revenue through our commercial initiatives, efficiently managing costs, and producing free cash flow to further strengthen our balance sheet."
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