American Airlines Posts $2.2 Billion Loss During Pandemic
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.