American Airlines on the up

American Airlines achieved revenues of $10.9bn during the July to September period, up by 2.7% on the same three months of 2016.

The giant US carrier also reported a third-quarter pre-tax profit of $1bn despite a challenging operating environment in the second half of 2017, not least because of the hurricanes that have swept through important markets in the southern US and Caribbean.

Cargo revenue was up by 17% to $200m, thanks in large part to a 19.2% increase in the number of cargo ton miles flown.

“Despite the significant operational challenges posed by three hurricanes, our team delivered solid financial results,” insisted chairman and chief executive Doug Parker.

“The hurricane response highlighted the humanity and professionalism of the American team, and our industry as a whole,” he added.

As part of the company's ongoing fleet renewal programme, during the third quarter of this year American invested more than $900m in 13 new mainline aircraft and three regional aircraft, including taking delivery of its first Boeing 737 MAX aircraft.

These new and more fuel-efficient aircraft will replace aircraft that are expected to leave the fleet.

"We are focused on driving efficiencies and maximising value for our investors,” said chief financial officer Derek Kerr.

“As we plan for the future, we have identified more than 400 efficiency-related projects which we estimate will provide $1bn of benefit over the next four years.

“Examples include fuel initiatives, flight and route planning, improved schedule seasonality, and using our airport assets more productively.”