FORT WORTH, Texas (AP) — American Airlines is reporting another big loss as the pandemic continues to hammer air travel, but the airline says it is seeing signs of more demand for tickets.
American said Thursday that it lost $1.25 billion in the first quarter. The loss is roughly in line with Wall Street expectations.
American is slashing costs to ride out the pandemic.
It is delaying delivery of 23 new planes as it waits for air travel to recover from the pandemic.
American says it has reduced 2021 costs by more than $1.3 billion, including a new round of voluntary buyouts that will result in 1,600 employees leaving the company.
(Copyright (c) 2024 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)