American Airlines posted a 2018 net profit of $566 million, and pre-tax earnings of $769 million on Thursday, which is 34% less than the previous quarter earnings.
The world’s largest airline in terms of passenger traffic, reported a lowest earnings since it merged with US Airways in 2013. The Airline says, the higher fuel prices, and more than 2000 flights cancellation due to computer glitch in June attributed to the lower earnings.
The airline said, the fuel bill rose more than 41 percent in the last quarter. The aviation jet fuel is trading at an average $85.6bbl
The AA share price dropped 8% as it posted only of $1.22 per share.