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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

American Q1 profit at $10m

The order comprises 260 new planes, plus options for an additional 193 aircraft. (AFP)
  • The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
  • With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.

NEW YORK, US – American Airlines reported a profitable first quarter Thursday and said persistently robust travel demand would translate to even stronger results in the current period.

“Demand for American’s product remains strong,” the company said in a press release.

“Domestic and short-haul international revenue continue to perform well and the airline has seen noticeable strength in long-haul international demand and yield performance this year.”

Profits were $10 million, compared with a loss of $1.6 billion in the year-ago period.

Revenues were $12.2 billion, up 37 percent.

American projected second-quarter profits of between $1.20 and $1.40 a share, well above analyst expectations.

While the company confirmed its full-year profit target, it did not raise them, saying the forecasts include the anticipated impact of new labor agreements expected to lift wages.

The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.

The company also pointed to headway on reducing debt. After entering the pandemic with higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.

Shares advanced 0.9 percent to $12.85 in pre-market trading.