April 22 (Reuters) - American Airlines Group Inc on Thursday reported a smaller quarterly loss as rising vaccination rates prompted more people to opt for air travel.
- First-quarter revenue of $4.0 billion, down 53% year over year on a 39% year-over-year reduction in total available seat miles (ASMs).
- First-quarter net loss of $1.3 billion, or ($1.97) per share. Excluding net special items1, first-quarter net loss was $2.7 billion, or ($4.32) per share.
- Raised $10 billion through debt offering backed by the AAdvantage program and used a portion of the proceeds to prepay in full the secured loan from the U.S. Department of the Treasury.
- Ended the first quarter with approximately $17.3 billion of total available liquidity. Company expects to end the second quarter with approximately $19.5 billion in total available liquidity.
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