Its wholly owned subsidiary American Airlines Inc. is a global network air carrier. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Pages 89 & 90. As noted above, President Robert Isom will replace Parker, who is expected to continue to serve as chairman of the company's board of directors. Investopedia requires writers to use primary sources to support their work. ", American Airlines Group Inc. "American Airlines Announces Leadership Succession Plan.". Isabella Guzman is the administrator of the Small Business Administration and was Director of the California Office of the Small Business Advocate. On Dec. 7, 2021, the company announced that CEO Doug Parker would be retiring on March 31, 2022. Investopedia does not include all offers available in the marketplace. How United Airlines Makes Money: Passenger Revenue is Recovering, How Delta Air Lines Makes Money: Passenger Sales are Rising Rapidly, American Airlines Earnings: What to Look For, How Expedia Makes Money: Retail Segment Generates Most Revenue, Delta Air Lines Earnings: What to Look For. The company has adapted to the pandemic by launching its first cargo-only flights since 1984. It accounts for approximately 7% of companywide revenue. Founded in 1966, the Asian Development Bank's headquarters are in Manila, Philippines. Isom is currently president of the company. American Airlines counts as passenger revenue any revenue that comes from passenger services from transportation on its main airline or subsidiary airlines, including baggage fees, in-flight services, and mileage credit redemptions from the company's AAdvantage member loyalty service. For Q4 FY 2021, other revenue rose 27.5% YOY to $704 million. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Page 90. Even though American Airlines has just one reportable segment, it breaks down revenue figures by passenger, cargo, and other revenue. The airline carrier's business has been severely adversely impacted by the collapse in travel demand triggered by the COVID-19 pandemic and related travel restrictions.

Nasdaq is a global electronic marketplace for buying and selling securities on a computerized, speedy, and transparent system.. The Federal Maritime Commission is an independent federal agency responsible for ensuring a competitive, efficient ocean transportation system. We've updated our Privacy Policy, which will go in to effect on September 1, 2022. On Dec. 14, 2021, American Airlines announced the nine-person senior leadership team that will report to Robert Isom when he becomeschief executive officer (CEO)on March 31, 2022. You can learn more about the standards we follow in producing accurate, unbiased content in our. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Cargo revenue is significantly less than American Airlines' passenger revenue. industry Nathan Reiff has been writing expert articles and news about financial topics such as investing and trading, cryptocurrency, ETFs, and alternative investments on Investopedia since 2016. These include white papers, government data, original reporting, and interviews with industry experts. American Airlines Group is a holding company that provides global and regional air transport services for passengers and cargo. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Page 170. American Airlines Group Inc. "American Airlines Announces Senior Leadership Team. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Page 112. Vaccine rollouts and the relaxation of restrictions have helped travel demand to begin to rise again. Some of American Airlines Group's competitors include major carriers such as Delta Air Lines Inc. (DAL) and United Airlines Inc. (UAL), as well as global and regional carriers throughout the U.S. and abroad. In January, American Airlines announced financial results for Q4 of its 2021 fiscal year (FY), the three-month period ended Dec. 31, 2021. Richard H. Anderson was CEO of Delta Air Lines during its merger with Northwest Airlines, and was most recently the CEO of Amtrak. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Page 8. Passenger services account for the vast majority of revenue. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Pages 7 & 8. The company also provides regional service through American Eagle, whose operations include Envoy Aviation Group Inc., PSA Airlines Inc., and Piedmont Airlines Inc., as well as third-party carriers. Other revenue also includes revenue generated from airport clubs, advertising, and vacation-related services. grounded American Airlines operates as a single business segment, maintaining a fleet of hundreds of aircraft that transport both passengers and cargo globally. Passenger revenue represents the largest portion of American Airlines' total operating revenue. We also reference original research from other reputable publishers where appropriate. American Airlines Group Inc. "Form 10-K for the fiscal year ended Dec. 31, 2021," Pages 60 & 150. Form 10-K for the fiscal year ended Dec. 31, 2021, American Airlines Announces Senior Leadership Team, American Airlines Announces Leadership Succession Plan. As part of American Airlines' member loyalty program, the company sells mileage credits to credit card companies, airline partners, and various other business partners. Cargo revenue includes revenue generated from cargo transport of any kind by American Airlines.

These flights have transported millions of pounds of critical goods, including the COVID-19 vaccine. Revenue for the quarter rose 134.1% year-over-year (YOY) to $9.4 billion. Even as American Airlines' revenue recovers, however, it is still at about 83% of the level it was in 2019, before the pandemic. American Airlines is beginning to recover from the COVID-19 pandemic's devastating effect on passenger travel. American Airlines Group Inc. (AAL) provides air transport services for passengers and cargo. Micky Arison is the director and chair of Carnival Corporation and managing general partner of the NBA team, the Miami HEAT. For Q4 FY 2021, passenger revenue rose 162.8% YOY to $8.4 billion, comprising nearly 89% of total quarterly revenue. Other revenue is comprised primarily of the marketing component of mileage sales to co-branded credit cards and other partners as well as other marketing-related payments. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. American Airlines Group Inc. "Form 8-K dated Jan. 20, 2022," Page 5. American Airlines provides only a single net income/loss figure for the entire company. Several changes were made to the senior team, including the addition of Priya Aiyar as senior vice president of corporate affairs and chief legal officer, and David Seymour as senior vice president andchief operating officer (COO). This compensation may impact how and where listings appear. The company posted a net loss of $931 million, an improvement from the net loss of $2.2 billion in the year-ago quarter. American Airlines Group Inc. "Form 8-K dated Jan. 20, 2022," Page 18 (PDF). We describe these revenue streams in detail below. For Q4 FY 2021, cargo revenue rose 19.6% YOY to $341 million, comprising about 4% of total quarterly revenue. In December 2021, American Airlines named President Robert Isom as the company's new CEO, effective March 31, 2022. Its primary mission is to foster growth and cooperation in the region.