Flush with more revenue, American Airlines posts profit, declares first dividend since 1980

MarketsAssociated Press

Profit and revenue are up at American Airlines, and the company will share some of the gains with shareholders.

American Airlines Group Inc. said Thursday that it earned $864 million in the second quarter, up from the $507 million that American and US Airways earned separately a year ago, before their merger.

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Excluding specials charges, the company said it earned a record $1.46 billion, or $1.98 per share. Analysts surveyed by FactSet expected $1.95.

Revenue is up 10.2 percent as passengers paid 6.5 percent more per mile for their tickets.

American also says it will pay its first dividend since 1980, buy back up to $1 billion in shares, and spend money to pay off debt and aircraft leases.