American Airlines Group has reported a first quarter net profit of record $1.2 billion excluding net special charges, a record for the airline.
This $1.73 per diluted share and is a tripling of the company’s first quarter 2014 net profit excluding net special credits of $402 million, or $0.54 per diluted share.
The company’s first quarter 2015 pre-tax margin excluding net special charges was a record 12.7 per cent, up 8.6 percentage points from the same period last year.
On a GAAP basis, the company reported a record net profit of $932 million, or $1.30 per diluted share.
“We are pleased to report record first quarter profits, exceeding the prior record set just last year,” said Doug Parker, American Airlines group chairman.
“The credit belongs to our 100,000 team members who are working together to restore American to the greatest airline in the world.
“We are particularly pleased with the integration achievements our team has realised and look forward to building on those successes through 2015 and beyond.”
American also achieved several critical integration milestones during the quarter as it continues to merge with US Airways.
The airlines now offer a combined frequent flyer program, with the recalibration of the schedule at the company’s hubs at Chicago O’Hare and Dallas/Fort Worth also completed.
The airlines also obtained a single operating certificate from the Federal Aviation Administration in early April