American Airlines reports $2.2 bn loss on COVID-19 hit

New York (AFP) – American Airlines reported a $2.2 billion loss in the first quarter Thursday following the steep decline in business due to the coronavirus outbreak.The results included a write-down of older aircraft that American is retiring in the wake of the COVID-19 slowdown, which leading airline executives have described as the worst operating environment in their lifetime.”Never before has our airline, or our industry faced such a significant challenge,” said American Airlines Chief Executive Doug Parker.”We have moved quickly and aggressively to reduce our costs and bolster our liquid…

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