Summary by Moomoo AI
On January 25, 2024, American Airlines Group Inc. released its financial results for the fourth quarter and the full year of 2023. The company reported record annual revenue of approximately $53 billion and a GAAP net income of $19 million for the fourth quarter and $822 million for the full year. Excluding special items, the net income for the same periods was $192 million and $1.9 billion, respectively. American Airlines achieved its highest ever fourth-quarter and full-year completion factor, and generated its highest full-year free cash flow of $1.8 billion. The company also reduced its total debt by $3.2 billion in 2023, making significant progress towards its 2025 debt reduction goal. The operational reliability of American Airlines and its regional partners was highlighted by nearly 2 million flights operated in...Show More