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American Airlines Reports $931 Million Fourth-quarter Loss

American Airlines passenger jets prepare for departure, Wednesday, July 21, 2021, near a terminal at Boston Logan International Airport, in Boston.   American Airlines Group Inc. (AAL) on Thursday, Jan. 20, 2022, reported a loss of $931 million in its fourth quarter. On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $1.44. Losses, adjusted for non-recurring costs, came to $1.42 per share. (AP Photo/Steven Senne, File)
American Airlines passenger jets prepare for departure, Wednesday, July 21, 2021, near a terminal at Boston Logan International Airport, in Boston. American Airlines Group Inc. (AAL) on Thursday, Jan. 20, 2022, reported a loss of $931 million in its fourth quarter. On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $1.44. Losses, adjusted for non-recurring costs, came to $1.42 per share. (AP Photo/Steven Senne, File)
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Dallas (AP) -- American Airlines lost $931 million in the fourth quarter and the incoming CEO said Thursday that the surge in COVID-19 will delay the airline's recovery by two or three months.

First-quarter revenue is expected to be down about 20% to 22% compared with the first quarter of 2019, and it will fly slightly less than it did two years ago, the airline said.