Wall Street

American Airlines returns to profit, flags cost pressure

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Reuters

(Reuters) -American Airlines Group Inc on Thursday posted its first quarterly profit without U.S. government aid since the COVID-19 pandemic began as strong summer travel demand generated the highest quarterly revenue in its history. The Texas-based carrier, however, expects cost pressure to remain elevated in the current quarter as the airline industry grapples with operating expenses like higher fuel and labor costs. The lifting of coronavirus curbs and bottled-up travel demand have sparked the strongest summer for U.S. carriers in three years, putting most of them on track for a profitable …

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