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U.S. carriers benefited from millions of Americans flying in November and December, with the Transportation Security Administration screening https://www.tsa.gov/news/press/releases/2021/12/07/near-pre-pandemic-travel-volumes-expected-continue-through-december nearly 21 million travelers during the 10-day Thanksgiving holiday.
Demand during Christmas Eve and New Year’s Eve was strong as well, although mass flight cancellations towards the end of the year due to rising COVID-19 cases and inclement weather meant airlines could not fully tap that demand.
Shares of the company were up 1.1% before the bell on Thursday.
Fort Worth, Texas-based American Airlines (NASDAQ:AAL) had ramped up capacity and staffing to meet the demand surge during the key season. Available seat miles, the carrying capacity of an airplane available to create revenue, rose 84% from a year earlier.
The airline’s adjusted net loss fell to $921 million, or $1.42 per share, for the quarter ended Dec. 31, from $2.2 billion, or $3.86 per share, a year earlier when the COVID-19 pandemic hammered air travel.
Total operating revenue rose to $9.43 billion from $4.03 billion a year earlier.