CorvetteMan
Veteran
- Jul 7, 2022
- 528
- 55
Great way to get cards signed. Wish them to lose their jobs and the airline to be out of business.Believe that when I see it. Revisit this quote by you in 2025. Oh wait, you won't even be here then...
Going to print this and bring it to the workplace.
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We ended the second quarter with $15.6 billion of total available liquidity. During the quarter, we generated operating cash flow of $1.7 billion and free cash flow of more than $800 million. Total debt reduction remains a top priority. We remain on track with our target of reducing overall debt levels by $15 billion by the end of 2025.
In the near term, we will continue to keep up -- keep our liquidity at elevated levels, with a plan to step down to $10 billion to $12 billion when we are confident the recovery has fully taken hold. At that time, any excess liquidity will be prioritized to reduce debt.
During the quarter, we made $1 billion in scheduled debt and finance lease payments, including paying off the remaining outstanding balance of our $750 million unsecured senior notes that matured in June.”
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We're also pleased to have hit our pretax margin guidance despite a challenging end of the quarter and a significant run-up in oil prices. American reported a second quarter GAAP net income of $476 million. Excluding net special items, we reported a second quarter net income of $533 million.
American produced revenues of $13.4 billion in the second quarter and that's an increase of 12.2% versus 2019 and a record for any quarter in the company's history. And let me repeat that: That's a record for any quarter in our company's history. These results were achieved while flying 8.5% less capacity than we did in 2019.”