American Airlines reported its highest-ever quarterly revenue for its second quarter on Thursday, at $14.3bn, although that still fell short of expectations.
Following a global technology outage on 19 July, American Airlines said it quickly recovered, achieving a 98.9% completion factor the next day, leading operational performance among US network carriers.
“American has a fleet, network and product built to deliver results, but during the second quarter, we did not perform to our initial expectations due to our prior sales and distribution strategy and an imbalance of domestic supply and demand,” said chief executive officer Robert Isom.
“We are taking this challenge head-on, with clear and decisive actions to deliver on a strategy that maximises our revenue and profitability, and importantly, one that makes it easy for customers to do business with American.
“When we return to the level of revenue generation we know we can achieve, and we couple that with our operational reliability and best-in-class cost management, we will unlock significant value.”
At 0750 EDT (1250 BST), shares in American Airlines Group were down -7.08% in premarket trading in New York, at $9.45.