American Airlines Group (AAL) reported a smaller fourth-quarter loss, helped by strong travel bookings during the recent holiday season.
U.S. carriers benefited from millions of Americans flying in November and December, with the Transportation Security Administration screening nearly 21 million travelers during the 10-day Thanksgiving holiday period.
Demand during Christmas and New Year's Eve was strong as well, although mass flight cancellations towards the end of the year due to rising COVID-19 cases and winter weather hampered bookings in some areas of the U.S.
Fort Worth, Texas-based American Airlines has ramped up capacity and staffing to meet the demand surge during the key holiday season. Available seat miles, the carrying capacity of an airplane available to create revenue, rose 84% in November and December from a year earlier.
The airline's adjusted net loss fell to $921 million U.S. during the fourth quarter, or $1.42 U.S. per share, from $2.2 billion U.S., or $3.86 U.S. per share, a year earlier when the pandemic hammered air travel.
American Airlines total operating revenue rose to $9.43 billion U.S. from $4.03 billion U.S. a year earlier.
Shares of the company were up 1.1% in premarket trading on the latest financial results. In the past six months, American Airlines stock had declined 16% to $17.31 U.S. a share.
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