American Airlines Group Inc. revealed on Thursday that its revenue in the third quarter of fiscal 2023 reached $13.5 billion, slightly increasing 0.1% on an annual level. In the three months ending September 30, operating income plunged to $223 million from $930 million registered in the same timeframe a year ago. Also, net income sank from $483 million recorded in the third trimester of 2022 to a loss of $545 million in 2023. Year over year, diluted earnings per share nosedived 220% to a decline of $0.83.
"Our team is delivering record-setting reliability and operational performance. We are executing on our plans and remain well-positioned for the future, supported by the strength of our network, our young and modern fleet, and our outstanding team," CEO Robert Isom said.
The company's shares dropped 0.44% in the premarket session after the report was published.