- UN holds 'Summit of the Future' to tackle global crises
- Marxist leader set to become Sri Lanka's next president
- From blades to pull-up bars: UK charity tackles knife crime
- Swiss vote on pensions and environment protections
- No pain, no gain: Chinese pro wrestlers fight for recognition
- UAE leader seeks to deepen 'strategic' ties in US visit during Mideast crisis
- Hezbollah takes heavy hits but still fighting Israel
- Floods, landslides hit central Japan months after major quake
- All Blacks coach Robertson demands better finishing
- Argentina edge South Africa to keep title hopes alive
- Biden says China 'testing us,' in hot mic remarks to Quad allies
- Dubois destroys Joshua to retain IBF world heavyweight crown
- Guardiola says critics want Man City wiped 'from face of the Earth'
- Biden says 'Quad' is 'here to stay' despite challenges
- Dubois knocks out Joshua to retain IBF world heavyweight crown
- Vinicius helps 'faster' Madrid overturn stubborn Espanyol
- Zelensky to press US on long-range missile strikes inside Russia
- PSG drop first points in draw at Reims
- Vinicius, Mbappe on target as Madrid crush plucky Espanyol
- Jeeno leads Ko by two at LPGA Queen City Championship
- Bottega Veneta goes for 'E.T.' chic as Madonna pops into D&G
- Messi, Miami frustrated by New York late leveler
- Musk's X platform takes first step toward lifting Brazil ban
- 'Business as usual' for Australia match-winner Carey amid boos
- Israeli jets pound Lebanon after deadly Beirut strike
- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
American Airlines eyes Q2 profit after latest loss
American Airlines reported another quarterly loss Thursday, but said a recent sharp improvement in bookings should enable it to achieve profitability in the second quarter.
The big US carrier joined rivals Delta Air Lines and United Airlines in predicting an imminent return to profitability as consumers shake off Covid-19 restrictions and go back to traveling.
Airlines have described a pronounced improvement in demand in March after the Omicron Covid-19 wave depressed travel earlier in the quarter.
"The demand environment is very strong, and as a result, we expect to be profitable in the second quarter based on our current fuel price assumptions," said Chief Executive Robert Isom.
Airlines have struggled for more than two years, downsizing staff and surviving a cash-burning period with help from US government support programs and the private debt market.
In the first quarter, American reported a loss of $1.6 billion in the first quarter, compared with a loss of $1.3 billion in the year-ago period.
Revenues more than doubled to $8.9 billion.
American expects second-quarter revenues to exceed those from the pre-pandemic 2019 period by six to eight percent. It sees a 14 to 16 percent rise in total revenue per available seat mile, a closely-watched benchmark.
One concern facing the industry is the drag from higher jet fuel prices, which have skyrocketed in the wake of the jump in oil prices following the Russian invasion of Ukraine.
Some carriers have also struggled to retain enough labor to manage the uptick in travel. But American expressed confidence in its staffing, pointing to 12,000 hires since last summer.
Shares of American jumped 10.9 percent to $21.60 in pre-market trading.
H.Seidel--BTB