If you are a passenger on America Airlines, then American Airlines is actually making money out of you. American is finally making money from flying passengers in their second quarter.
Previous quarters have shown American’s costs being greater than passenger and cargo revenue, with a profit from selling frequent flyer miles to banks. However in the second quarter, American made money from flying.
This would make American Airlines CEO’s purchase $1.4 million USD worth of American’s stock look like a wise move and he wasn’t the only one who bought big. At the time, his buy looked brave but perhaps insane as we discussed in June. Now it’s looking like his might be a smart move after all, although for now, American’s stock remains significantly lower than it was a year ago. He might have done better purchasing a few Bitcoin?
While many bloggers refuse to fly American Airlines, we have covered the worst American Airline which makes AA look comparatively great.
Note: Any auction prices listed correct at time of publication, but will be subject to change.
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