Earnings

Southwest (LUV) and American Airlines (AAL) 2Q 21 post profits

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American Airlines and Southwest Airlines posted second-quarter profits Thursday, getting a lift from federal aid and a surge in travel demand.

Fort Worth, Texas-based American reported net income of $19 million, snapping five consecutive quarters of losses, thanks in part to more than $1 billion in federal payroll support. Revenue for the three months ended June 30 came in at $7.48 billion, up from just $1.6 billion a year earlier and ahead of Wall Street analysts’ forecasts, as customers returned to the skies in droves.

Adjusting for one-time items, American had a loss of $1.1 billion or $1.69 as share.

American said it plans to pay down $15 billion in debt by 2025. The most indebted of…



Source cnbc.com

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