American Airlines Reports $54.2 Billion Revenue in 2024: Key Financial Highlights

American Airlines Group has released its financial results for the fourth quarter and full year 2024, highlighting record-breaking annual revenue and a significant reduction in total debt.

Total revenue for the fourth quarter reached $13.7 billion, representing a 4.6% increase compared to the same period in 2023. For the full year, revenue totaled $54.2 billion, reflecting a 2.7% year-over-year growth. GAAP net income stood at $590 million in the fourth quarter and $846 million for the entire year of 2024.

Excluding special items, adjusted net income amounted to $609 million in the fourth quarter and $1.4 billion for the year. Special items include one-off financial adjustments or charges not directly tied to the company’s ongoing operations.

Operational performance

American Airlines improved its load factor, reaching 84.9% in 2024, a rise of 1.4 percentage points compared to 2023. During the fourth quarter, passenger numbers rose 4.2%, driven by growth across all regions, with the Pacific region leading at 41% traffic growth.

Fuel expenses, a key cost component, decreased by 20.8% in the fourth quarter, driven by a 23.5% drop in the average price per gallon. However, labor costs increased by 9.9% for the year, reflecting new collective agreements with key employees.

Slight revenue decline in Latin America but with strong load factors.

Key Highlights

1. Agreement with Citi: American Airlines signed a 10-year exclusive contract with Citi to issue AAdvantage® credit cards in the United States starting in 2026. This agreement generated $6.1 billion in revenue in 2024, a 17% increase compared to 2023.
2. Regional performance:
   • Domestic: Revenue grew by 3.5% in the fourth quarter, maintaining a load factor of 85%.
   • Pacific: The fastest-growing region, with a 39.4% revenue increase and a load factor of 85.8%.
   • Latin America: Slight revenue contraction of 0.7% in the quarter, while achieving a load factor of 85.2%.

American Airlines successfully achieved its goal of reducing total debt by $15 billion from its peak levels in 2021, achieving this milestone one year ahead of schedule. The airline also reported a record free cash flow of $2.2 billion in 2024, closing the year with $10.3 billion in total liquidity.

For 2025, the company projects an adjusted loss of $0.20 to $0.40 per share in the first quarter, driven by seasonal factors. However, it expects to deliver an annual adjusted profit between $1.70 and $2.70 per share.