American Airlines reports a staggering loss of $2.2 billion for the first quarter when the new coronavirus began to cause a steep drop in air travel.
The airline's CEO is highlighting American's efforts to survive the downturn, including receiving $5.8 billion in federal aid, and he is warning about difficult work and uncertainty ahead.
American Airlines reported Thursday that revenue fell 19% while costs continued to rise even as the virus spread.
The situation is growing more-dire in the days since the first quarter ended. Air travel within the U.S. has plunged 95% from a year ago, judging by the number of people screened at the nation’s airports.
