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American Airlines posts $2.2 billion loss during pandemic

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Copyright 2020 The Associated Press. All rights reserved
Gene J. Puskar/AP
FILE - In this March 31, 2020 file photo, American Airlines planes stored at Pittsburgh International Airport sit idle on a closed taxiway in Imperial, Pa. American Airlines reported a staggering loss of $2.24 billion for the first quarter, when the coronavirus pandemic triggered a sharp drop in air travel. The airline's revenue fell 19% while costs continued to rise even as the virus spread. (AP Photo/Gene J. Puskar, File)
American Airlines posts $2.2 billion loss during pandemic
Posted at 10:28 AM, Apr 30, 2020
and last updated 2020-04-30 13:28:45-04

DALLAS (AP) — American Airlines reports a staggering loss of $2.2 billion for the first quarter, when the new coronavirus began to cause a steep drop in air travel.

The airline's CEO is highlighting American's efforts to survive the downturn, including receiving $5.8 billion in federal aid, and he is warning about difficult work and uncertainty ahead.

American Airlines reported Thursday that revenue fell 19% while costs continued to rise even as the virus spread.

The situation is growing more dire in the days since the first quarter ended.

Air travel within the U.S. has plunged 95% from a year ago, judging by the number of people screened at the nation's airports.

Copyright 2020 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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