American Airlines posts quarterly profit, boosted by strong travel demand, federal aid
Thursday posted a profit for the second quarter, getting a lift from federal aid and a surge in travel demand.
Fort Worth, Texas-based American reported net income of $19 million, snapping five consecutive quarters of losses, thanks in part to more than $1 billion in federal payroll support. Revenue for the three months ended June 30 came in at $7.48 billion, up from just $1.6 billion a year earlier and ahead of Wall Street analysts' forecasts, as customers returned to the skies in droves.Earlier Thursday, Southwest also reported a jump in revenue in the quarter as travelers returned.
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