Commodities

American Airlines (AAL) results 3Q 2020


A passenger aircraft of American Airlines.Silas Stein | picture alliance via Getty ImagesAmerican Airlines on Thursday posted another big quarterly loss as the coronavirus pandemic hurt summer travel demand.Revenue dropped 73% in the three months ended Sept. 30 to $3.17 billion from $11.9 billion a year ago. The carrier swung to a $2.4 billion net loss in the third quarter from a $425 million profit a year earlier. Excluding one-time items, American posted a per-share loss of $5.54, better than analysts expected.American’s shares were down 1% in premarket trading.Fort Worth-based American earlier this month began furloughing 19,000 of its employees after the terms of $25 billion federal aid for the struggling airline sector expired. American has been the most vocal about urging lawmakers and the Trump administration to provide another $25 billion in aid for airlines, but so far no deal has been reached.Here’s how American performed compared with what Wall Street expected, based on average estimates compiled by Refinitiv:Adjusted EPS: a loss of $5.54 versus an expected loss of $5.86.Revenue: $3.17 billion versus $2.81 billion, expected.American will discuss its results with analysts at 8.30 a.m. ET.This is breaking news. Check back for updates.

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