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American Airlines Reports $2.4 Bln Loss In Q3

Sumaira FH Published October 22, 2020 | 05:30 PM

American Airlines reports $2.4 bln loss in Q3

American Airlines announced Thursday that its earnings plunged 73 percent in the third quarter amid the collapse in air travel during the coronavirus pandemic, causing a loss of $2.4 billion

New York, (UrduPoint / Pakistan Point News - 22nd Oct, 2020 ) :American Airlines announced Thursday that its earnings plunged 73 percent in the third quarter amid the collapse in air travel during the coronavirus pandemic, causing a loss of $2.4 billion.

The company, which recently laid off 19,000 workers after Washington policymakers failed to renew funding to support airlines, said it reduced the rate at which it burns cash to $44 million a day in the July to September period, compared to $58 million daily average in the second quarter.

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