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American Airlines swings to $480M 1Q profit

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Posted: Apr 24, 2014 6:45 AM

Updated: Apr 24, 2014 6:47 AM

DALLAS (AP) American Airlines is making money again and beating expectations after its merger with US Airways.

The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost $297 million a year earlier.

The profit works out to 65 cents per share, easily topping analyst projections for 48 cents per share.

Revenue rose 5.6 percent to $10 billion, just below analyst forecasts of $10.02 billion.

American Airlines Group Inc., formed by the December merger, is the largest airline in the world.

Shares of the Fort Worth, Texas, carrier are higher in premarket trading.

Topics: Earns-American Airlines

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