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Shares in US airliner American Airlines are trading slightly higher pre-market on Friday following a better than expected loss in Q2. The group posted losses of -$4.82 per share versus expected losses of -$7.84 per share.
Revenues were also a little better than expected. These came in at $1.62 billion versus expectations of a $1.44 billion reading over the quarter. Despite the better reading, revenues were still down by 86% over the quarter.
CEO Highlights Uncertainty
In a statement released by the company, chairman and CEO Doug Parker said:
“This was one of the most challenging quarters in American history. Covid-19 and the resulting shutdown of the US economy have caused severe disruptions to the global demand for air travel.”
Looking ahead, American said:
“There is much uncertainty ahead, but we remain confident we will emerge from this crisis more agile and more efficient than ever before.”
It has been a particularly challenging period for airlines around the globe with the travel ...
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