American Airlines lost $8.9 billion in a year of Covid-19 pandemic
American Airlines lost $2.2 billion in the fourth quarter as people stayed put in the pandemic, sending the carrier’s revenue plunging by nearly two-thirds from the same period a year ago.
American predicted that similar revenue trends from late 2020 will carry over into the first three months of 2021.
The results ended a dismal year in which American Airlines Group Inc lost $8.9 billion after earning nearly $1.7 billion the year before.
Shares of the Fort Worth, Texas, company surged more than 20% in trading before the opening bell, seemingly part of volatile trading elsewhere on Wall Street this week.
