American Airlines (NASDAQ:AAL) Group Inc. more than halved its Q4 2021 net loss to $931 million, or $1.44 per share, from a loss of $2.18 billion, or $3.81 per share, a year earlier.
The airline said in a press release that the adjusted loss was $1.42 per share, compared to the consensus forecast of $1.46 per share by analysts polled by FactSet.
The airline's quarterly revenue jumped to $9.43 billion from $4.03 billion a year earlier and beat analysts' average forecast of $9.34 billion.
Compared to Q4 of the pre-pandemic 2019, revenue was down 17% on the back of a 13% decline in limit passenger traffic.
Passenger revenue jumped to $8.38 billion from $3.19 billion a year earlier. Revenues from cargo rose almost 20% to $341 million.
The company posted a net loss of $1.99 billion, or $3.09 per share, for 2021, compared to a loss of $8.86, or $18.36 per share, for 2020. The airline's annual revenue jumped 72.4% to $29.88 billion.
According to the source, American Airlines carried more than 165 million passengers last year - more than any other US airline.
In Q1 of this year, the company expects revenue to be down 20-22% relative to Q1 2019.
Shares of American Airlines rose in premarket trading on Thursday. Since the beginning of the year, the company's capitalization has risen 9.4% to $11.59 billion.
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