American Airlines lost $2.2 billion in the first quarter as the coronavirus began to wreck the airline industry. This quarter is poised to be even worse.
The airline retired a variety of aircraft types as part of its effort to lower expenses, including its Boeing 757 and 767, Embraer E190, and Airbus A330-300 fleets.Visit Business Insider's homepage for more storiesAmerican Airlines lost more than $2.2 billion dollars in the first quarter of 2020, the airline said on Thursday — its biggest loss since the start of the 2008 financial crisis.
American Airlines' loss came on revenue of $8.52 billion — which was down nearly 20% from last year, but in line with other airlines that have reported their results.As the crisis has begun to look like a long-term downturn with an even longer recovery, airlines around the world have grounded planes and suspended routes.
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