American Airlines reported a profit of $10 million in Q1

American Airlines reported a profit of $10 million in the first quarter, as increased flying and a surge in revenue outpaced higher costs. The company’s revenue rose by 37% in the first three months of the year to $12.19 billion, in line with analyst estimates.

The airline’s net income for the quarter was $10 million, or 2 cents per share, a significant improvement from the same period in 2022, when it incurred a loss of $1.64 billion. Excluding charges related to debt refinancing, American’s adjusted earnings per share for the quarter were 5 cents, meeting analysts’ expectations.

American anticipates adjusted per-share earnings of $1.20 to $1.40 for the second quarter, at the higher end of analysts’ forecasts.

Late aircraft deliveries from manufacturers are impeding American’s growth, according to CEO Robert Isom. Isom stated that Boeing and Airbus must improve their performance and be held accountable for delivery delays.