American Airlines Reports Fourth-Quarter and Full-Year 2021 Financial Results
Fourth-quarter revenue of $9.4 billion, down 17% versus the same period in 2019 on a 13% reduction in total available seat miles (ASMs) versus the same period in 2019.
Fourth-quarter net loss of $931 million, or ($1.44) per share. Excluding net special items1, fourth-quarter net loss was $921 million, or ($1.42) per share.
Full-year net loss of $2.0 billion, or ($3.09) per share. Excluding net special items2, full-year net loss was $5.4 billion, or ($8.38) per share.
Safely transported more than 165 million passengers in 2021, more than any other U.S. carrier.
Ended the fourth quarter with $15.8 billion of total available liquidity, the highest year-end liquidity balance in company history.
“As we close out the second year of operating in a global pandemic, we are incredibly proud of the American Airlines team,” said American’s Chairman and CEO Doug Parker. “Over the past year, we have experienced periods of high travel demand countered by periods of decreased demand due to new COVID-19 variants. This volatility has created the most challenging planning environment in the history of commercial aviation. Yet the American team has delivered, growing back faster and further than any other U.S. airline to meet this unpredictable demand. Looking ahead, I’m excited about the future of American with Robert Isom as its new CEO. While we still have work to do as the recovery from the pandemic continues, I have no doubt the best is yet to come for American.”
For the full-year 2021, American achieved its best performance in on-time arrivals, on-time departures, and completion factor since the pandemic, despite flying significantly more than any other airline. American’s relative operating performance was particularly strong during the important year-end holiday period. The company’s on-time performance in December was better than any December in years prior to the pandemic, and American performed better than its primary competitors in these operational metrics during the month. These results were achieved despite an increase in sick calls toward the end of the year due to the omicron variant.
“We’re very proud of the way our team delivered throughout 2021,” said American’s President and incoming CEO Robert Isom. “Looking forward, our focus in 2022 will be to continue running a reliable airline, returning to profitability, and delivering on our long-term plan to deleverage the balance sheet.”
American is committed to strengthening its business and achieving profitability by focusing on its three strategic objectives: Create a world-class customer experience, make culture a competitive advantage, and build American to thrive forever.
NOTE: This is not the complete release. Visit American Airlines website for the complete release.
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