American Airlines has reported what it said was "record fourth-quarter revenue of US $13.2bn", a 16.6% increase over the same period in 2019.
"The company produced an operating margin of 10.5% in the quarter. American also produced record revenues of $49 billion for the full year, resulting in full-year profitability," the results report said.
The carrier and partners operated more than 475,000 flights in the fourth quarter, with an average load factor of 83.9%.
Quarterly and full-year net incomes were US $803 million and US $127 million, American said, or US $1.14 per diluted share and US $0.19 per diluted share. If fuel prices do not climb again, full-year 2023 adjusted earnings per diluted share would be between US $2.50 and US $3.50. the carrier added.
The results meant American ended the year with US $12bn available liquidity ahead of a plan to pay down US $15bn debt by the end of 2025.
"We committed to running a reliable operation and returning to profitability, and our team is delivering on both. We’re proud to have led the industry in operational performance over the holidays while producing record full-year and fourth-quarter revenues, resulting in a third consecutive quarterly profit and a profit for the full year," said chief executive Robert Isom.
In the fourth quarter, American said it "made approximately US $539 million in debt and finance lease payments and prepaid a US $1.2 billion term loan", and was "more than halfway to its goal of reducing total debt by US $15 billion by the end of 2025".