Financial Performance - American Airlines reported record quarterly revenue of $14.3 billion in Q2 2024, a 2% increase year-over-year[3]. - The net income for the second quarter was $717 million, or $1.01 per diluted share, down 46.4% compared to the previous year[3][16]. - Total operating revenues for Q2 2024 were $14,334 million, an increase from $14,055 million in Q2 2023[27]. - Operating income excluding net special items for Q2 2024 was $1,384 million, a decrease of 36.2% compared to $2,169 million in Q2 2023[27]. - Pre-tax income excluding net special items for Q2 2024 was $1,040 million, down 42.1% from $1,797 million in Q2 2023[29]. - Net income excluding net special items for Q2 2024 was $774 million, a decrease of 43.6% compared to $1,371 million in Q2 2023[29]. - Basic earnings per share excluding net special items for Q2 2024 was $1.18, down from $2.10 in Q2 2023[29]. Cash Flow and Debt Management - The company generated approximately $1.1 billion in operating cash flow and $850 million in free cash flow during the second quarter[3]. - Total debt was reduced by approximately $680 million in Q2 2024, with a goal to decrease total debt by $15 billion by the end of 2025[3][7]. - Net cash provided by operating activities for the first six months of 2024 was $3,308 million, down from $5,096 million in the same period of 2023[33]. - Free cash flow for the first six months of 2024 was calculated as net cash provided by operating activities minus net cash used in investing activities, adjusted for short-term investments and changes in restricted cash[34]. - Free cash flow for the same period was $2,217 million[36]. Operational Metrics - Operating margin for the quarter was reported at 9.7%, both on a GAAP basis and excluding net special items[7]. - Revenue passenger miles increased by 8.5% to 65,144 million for the three months ended June 30, 2024, compared to 60,020 million in 2023[19]. - Passenger load factor improved by 0.4 percentage points to 86.6% for the three months ended June 30, 2024, from 86.2% in 2023[19]. - Cargo ton miles rose by 20.6% to 515 million for the three months ended June 30, 2024, compared to 427 million in 2023[19]. - Domestic revenue passenger miles increased by 8.6% to 43,183 million for the three months ended June 30, 2024, compared to 39,758 million in 2023[22]. - Total international revenue passenger miles increased by 8.4% to 21,961 million for the three months ended June 30, 2024, from 20,262 million in 2023[22]. - Passenger revenue for the Atlantic region increased by 7.0% to $2,019 million for the three months ended June 30, 2024, compared to $1,888 million in 2023[22]. Cost and Expense Management - Total operating expenses for the first six months of 2024 were $25,513 million, compared to $23,644 million in the same period of 2023[33]. - Total operating expenses per ASM for Q2 2024 was 17.21 cents, compared to 17.07 cents in Q2 2023[29]. - Average aircraft fuel price decreased by 5.4% to $2.78 per gallon for the six months ended June 30, 2024, from $2.94 in 2023[19]. - Passenger revenue per ASM decreased by 5.8% to 17.54 cents for the three months ended June 30, 2024, compared to 18.63 cents in 2023[19]. - Total revenue per ASM decreased by 5.6% to 19.05 cents for the three months ended June 30, 2024, from 20.18 cents in 2023[19]. Employee and Operational Growth - Full-time equivalent employees increased by 3.7% to 137,400 at the end of the period compared to 132,500 in 2023[19]. - American Airlines carried 7.2 million customers over the Fourth of July holiday, achieving its largest-ever schedule and best operational performance[6]. Balance Sheet and Assets - Total current assets increased to $14,795 million as of June 30, 2024, compared to $13,572 million at the end of 2023, reflecting a growth of approximately 9%[38]. - Total assets reached $64,125 million as of June 30, 2024, up from $63,058 million at the end of 2023, indicating a growth of about 1.7%[38]. - Current liabilities increased to $24,610 million as of June 30, 2024, compared to $22,062 million at the end of 2023, representing an increase of approximately 11.5%[38]. - Long-term debt and finance leases, net of current maturities, decreased to $27,636 million from $29,270 million, a reduction of about 5.6%[38]. - The loyalty program liability increased to $6,031 million as of June 30, 2024, compared to $5,874 million at the end of 2023, reflecting a growth of approximately 2.7%[38]. - Accumulated other comprehensive loss improved slightly to $(4,858) million from $(4,894) million, indicating a reduction in losses[38]. - Retained deficit decreased to $(7,284) million as of June 30, 2024, from $(7,689) million, showing an improvement of approximately 5.3%[38]. - Total stockholders' deficit improved to $(4,746) million as of June 30, 2024, compared to $(5,202) million at the end of 2023, reflecting a reduction of about 8.7%[38]. Strategic Initiatives - The company is focusing on improving its sales and distribution strategy to enhance customer experience and regain partner trust[2][9]. - American Airlines is expanding AAdvantage Business™ benefits to agencies, allowing companies to earn miles regardless of booking channel[9].

NEW YORK, July 25, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of American Airlines Group Inc. (NASDAQ: AAL).Shareholders who purchased shares of AAL during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/american-airlines-loss-submission-form/?id=91988&from=4 CLASS PERIOD: January ...

Core Viewpoint - A securities class action lawsuit has been filed against American Airlines Group Inc. for failing to disclose material information during the class period from January 25, 2024, to May 28, 2024, leading to significant share price decline [1][2]. Summary by Sections Lawsuit Details - The lawsuit alleges that American Airlines and certain executives violated federal securities laws by not disclosing critical information [2]. - On May 28, 2024, the company announced the termination of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja, and reduced its short-term guidance, cutting operating margin by one percentage point and adjusted earnings per share by over 17% due to weak consumer bookings and other factors [2]. Share Price Impact - Following the announcement on May 28, 2024, American Airlines' share price dropped by over 13.5%, from $13.44 to $11.62 per share the next day [3]. ClaimsFiler Information - ClaimsFiler is a service that assists retail investors in recovering funds from securities class action settlements, providing resources for filing claims and legal evaluations [3].

Core Viewpoint - A class action lawsuit has been filed against American Airlines Group Inc. for allegedly making false and misleading statements regarding its sales and distribution strategy, which failed to increase revenue as claimed [1][2]. Group 1: Lawsuit Details - The lawsuit pertains to violations of the Securities Exchange Act of 1934 and Rule 10b-5, with the class period defined as January 25, 2024, to May 28, 2024 [1]. - Investors who purchased securities during this period are encouraged to contact the Schall Law Firm before September 16, 2024, to discuss their rights [1][2]. Group 2: Allegations Against the Company - The complaint alleges that American Airlines made repeated positive statements about its new strategy aimed at reducing expenses and increasing consumer demand, which were ultimately misleading [2]. - The company's public statements were deemed false and materially misleading, leading to investor damages once the truth was revealed [2].

American Airlines Group Inc (NASDAQ:AAL) is 1.2% lower at $10.57 this afternoon, following a pre-earnings bear note at Bernstein. The analyst slashed its price target on AAL to $12 from $18, as the airline name prepares to report second-quarter results before the open on Thursday, July 25. Over the past eight quarters, the stock has logged five positive post-earnings moves, including a 10.3% bounce after its January report. On average, AAL averaged a 4.2% move --regardless of direction -- the day after earn ...

There are multiple reasons why the overall airline market has been bearish lately. This includes the large influx of negative incidents related to Boeing (NYSE:BA). As most readers are undoubtedly aware, alleged issues with quality control on BA’s part led to multiple, less-than-ideal incidents occurring. Recently, the entire sector had a meltdown, primarily due to the global technology outage caused by Crowdstrike (NASDAQ:CRWD) releasing an update that had critical errors in it. As a result, multiple airli ...

NEW YORK, July 22, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against American Airlines Group Inc. (“American Airlines” or the “Company”) (NASDAQ: AAL) in the United States District Court for the Northern District of Texas on behalf of all persons and entities who purchased or otherwise acquired American Airlines securities between January 25, 2024 and May 28, 2024, both dates inclusive (the ...

We’ve got a heavy slate of earnings reports this week, as many different pockets of the economy are being represented. So far, we’ve seen Q2 results from a fair number of S&P 500 companies, with earnings for these index members up 8.7% on 5.2% higher revenues.The overall earnings landscape is expected to remain positive, aided by another strong showing from technology.This week, several airliners, namely American Airlines (AAL) and Southwest Airlines (LUV) are on the docket. Both stocks reside in the red YT ...

American Airlines’ (AAL) high operating expenses challenge its financial stability, straining the company's bottom line. American Airlines is grappling with a host of intricate hurdles, a scenario we believe has significantly diminished its attractiveness as an investment opportunity.Let’s delve deeper.Southward Earnings Estimate Revision: The Zacks Consensus Estimate for the June quarter earnings has been revised 17% downward in the past 90 days. For the current year, the consensus mark for earnings has mo ...

RADNOR, Pa., July 21, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Texas against American Airlines Group Inc. ("American Airlines") (NASDAQ: AAL). The action charges American Airlines with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, ...