American Airlines Group saw summer profits rise by 59% to $1.2 billion, boosted by its merger with US Airways.
The carrier’s third-quarter pre-tax margin excluding net special charges was 11%.
Total revenues for the three months to September 30 came in at a record $11.1 billion, up 4.4% year on year on a combined basis.
But the airline is still trying to repatriate $721 million in funds held in Venezuela, down $70 million from the previous quarter.
“This balance also reflects the company’s significant reduction in capacity in this market, pending further repatriation of funds and due to a decrease in demand for air travel resulting from the effective devaluation of the [Venezuelan] bolivar,” the airline said.
“The company continues to work with Venezuelan authorities regarding the timing and exchange rate applicable to the repatriation of funds held in local currency.
“The company is monitoring this situation closely and continues to evaluate its holdings of Venezuelan bolivars for potential impairment.”
Chairman and chief executive, Doug Parker, said: “We are very pleased to have reported a record profit for each quarter so far in 2014.
“We anticipate we will also post a record profit for both the fourth quarter and full year 2014.
“This performance reflects the strength of our merger and the commitment of our team. Our over 100,000 team members are doing an excellent job of integrating our airlines and providing outstanding service to our customers.”
He added: “While some of the biggest tasks in our integration still lie before us, the significant accomplishments to date reinforce our confidence that we are well on our way to restoring American as the world’s greatest airline.
“Thanks to our team, American is in excellent position for success in 2015 and beyond.”