American Airlines Group returned to the black last year as it finalised its merger with US Airways, turning around a 2013 loss of $1.8 billion into a net profit of $2.9 billion.
The fourth-quarter profit came in at $597 million against a loss of $2 billion in the same period in 2013, which included the results for US Airways only for the period from the completion of the merger on December 9 through to December 31, 2013.
The company’s 2014 net profit was a record $4.2 billion, excluding net special charges – up 115% over the combined 2013 figure, excluding net special charges of $1.9 billion.
Strong demand throughout the year led to 2014 total revenue of $42.7 billion, up 5.6% year-on-year.
Chairman and chief executive Doug Parker said: “Our record 2014 results close out a fantastic first year for our merger.
“These results would not have been possible without the efforts of our more than 100,000 team members. They have done a great job of working together to take care of our customers and restore American as the greatest airline in the world.”
He added: “We have much to do in the year ahead as we continue to integrate two large carriers.
“The results we have achieved thus far, combined with our economic outlook, give us confidence that 2015 will be another outstanding year for American Airlines.”