Revenue is down 73 percent at American as the airline continues to hemorrhage money during the pandemic. American reported a third quarter loss of 2.4 BILLION dollars.
There has been a slight uptick in air travel recently...but not enough yet to make a difference. People are just not flying during the pandemic. The third quarter is usually strong for air travel because it includes most of the normally busy summer travel season.....but NOT this year.
American's shares have declined 56 percent since the beginning of the year....and the stock has declined 55 percent in the last 12 months.