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American Airlines reports huge losses for 2021

American Airlines reports huge losses for 2021

American Airlines has reported a net loss of $5.4 billion, or $8.38 per share, for 2021.

However, the airline transported more than 165 million passengers last year, more than any other United States-based carrier.

“Over the past year, we have experienced periods of high travel demand countered by periods of decreased demand due to new Covid-19 variants,” said American chief executive, Doug Parker.

“This volatility has created the most challenging planning environment in the history of commercial aviation.”

He added: “Looking ahead, I’m excited about the future of American with Robert Isom as its new chief executive.

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“While we still have work to do as the recovery from the pandemic continues, I have no doubt the best is yet to come for American.”

American ended the year with $15.8 billion of total available liquidity, the highest year-end liquidity balance in company history.

The carrier said it also achieved its best performance in on-time arrivals, on-time departures and completion factor since the start of the pandemic, despite flying “significantly more than any other airline”.