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American Airlines Q3 pre-tax earnings $835 million

Christian Fernsby |
American Airlines Group reported its third quarter 2019 results.

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Pre-tax earnings excluding net special items for the third quarter of 2019 were $835 million, a 16% year-over-year increase from the third quarter of 2018.

Excluding net special items, net income was $630 million, or $1.42 per diluted share.

Strong passenger demand drove a 3% year-over-year increase in third-quarter 2019 total revenue to a record $11.9 billion.

Driven by a 3 percentage point increase in total passenger load factor, passenger revenue per available seat mile (PRASM) grew 3% to a record 14.50 cents.

Cargo revenue decreased 20% to $208 million due primarily to a 17% decrease in cargo ton miles.

Other revenue was down 4% to $708 million.

Third-quarter 2019 TRASM increased by 2% year over year to a record 15.71 cents on a 1% increase in total available seat miles, marking the 12th consecutive quarter of growth.

Total third-quarter 2019 operating expenses were $11.1 billion, up 2% year over year.

Total operating cost per available seat mile (CASM) was 14.64 cents in the third quarter of 2019, up 1% from the third quarter of 2018.

Excluding fuel and net special items, third-quarter 2019 CASM was 11.07 cents, up 5% year over year due primarily to higher salaries and benefits, maintenance and regional expense, and lower than planned capacity.

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