American Airlines

Ticker AAL

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Price US dollars
As of 11:19 19 Aug 2018
Market cap. US dollars
17,402.64 million
As of 11:19 19 Aug 2018

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American Airlines boss sees oil at $75 per barrel

Doug Parker, AA chief executive
Getty Images

The chief executive of American Airlines said that he is assuming that oil at $75 per barrel is the "new reality".

Earlier the company warned that profits would fall this year due to higher fuel, which have been driven higher by the rising cost of crude oil.

However, Doug Parker said he is "confident" that revenue will grow in 2019 and beyond.

Fuel costs force American Airlines profit warning

American Airlines
Getty Images

American Airlines has endured "the most challenging quarter" since it merged with US Airways five years ago, according to its chairman and chief executive.

Net income fell by 34.5% to $566m (£429m) on revenues up 3.7% at $11.6bn in the three months to June.

American Airlines chairman and chief executive Doug Parker, said: “This was perhaps the most challenging quarter for the American team since our merger with US Airways in 2013.

He said: "Higher fuel prices increased our expenses by more than $700m versus last year and our revenues, while increasing, have begun to trail the rate of increase at our largest competitors for the first time since early 2016.

"Because fuel expenses are expected to increase by more than $2bn this year, we expect 2018 earnings to be lower than last year."

Police use stun gun on American Airlines passenger
A man accused of groping a passenger refused to leave and wrestled officers who tried to remove him.

Police use stun gun on plane passenger

Police use stun gun on American Airlines passenger
When Jacob Garcia was accused of groping a passenger he refused to leave his American Airlines flight in Miami. 

The police were called to remove him and a struggle ensued.
Bette Nash: US flight attendant celebrates 60 years in the air
Bette Nash is celebrating 60 years working as cabin crew and says she has no plans to retire.