Texas-Based American Airlines Reports $1.25 Billion Loss, Cites Pandemic And Decreased Air Travel

CBS Dallas/Fort Worth

April 22, 2021

Thursday morning American Airlines reported losses of some $1.25 billion in the first quarter. In an effort to compensate, the carrier said it continued to slash costs — including delaying delivery of new jets as it waits for air travel to recover from the pandemic.

Chairman and CEO Doug Parker said the airline continues to see signs that demand for tickets is improving.

American said it burned through $27 million in cash each day in the quarter, down from $30 million a day in the fourth quarter of 2020. The airline said it reduced 2021 costs by more than $1.3 billion, including a new round of voluntary buyouts that will result in 1,600 employees leaving the company.

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