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American Airlines Group Q4 revenues down 64.4%

Christian Fernsby |
American Airlines Group Inc. reported a fourth quarter loss per share, excluding special items, of $3.86 compared to profit of $1.15, a year ago.

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Fourth quarter total operating revenues were $4.03 billion, down 64.4 percent from a year ago on a 53% reduction in total available seat miles. Analysts expected revenue of $3.88 billion, for the quarter.

American expects first-quarter system capacity to be down 45% year-on-year, with total revenue expected to be down 60 to 65%.

American Airlines Group ended fourth quarter with approximately $14.3 billion of total available liquidity. The company expects to end the first quarter with approximately $15.0 billion in total available liquidity.

To reduce costs, American incorporated more than $1.3 billion of permanent non-volume, non-fuel efficiency cost-saving measures into 2021 operating plan.

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