FORT WORTH, Texas — American Airlines Group Inc. (AAL) on Thursday reported a third-quarter loss of $545 million, after reporting a profit in the same period a year earlier.
The Fort Worth, Texas-based company said it had a loss of 83 cents per share. Earnings, adjusted for non-recurring costs, were 38 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The world's largest airline posted revenue of $13.48 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $13.52 billion.
American Airlines shares have decreased 11% since the beginning of the year. The stock has declined 17% in the last 12 months.
