American Airlines expected to miss first-quarter revenues

In the fourth quarter of 2021, American Airlines reported losses of $931 million.

Officials said the Omicron Covid surge will slow the airline's recovery by two to three months.

American Airline's first-quarter revenues are expected to be 20 to 22 percent less than the first quarter of 2019. The airline will have fewer scheduled flights than two years ago, according to American officials.

The airlines industry is upbeat about spring and summer travel, despite the rapid spread of the Omicron variant.

Incoming American Airlines CEO Robert Isom, who took over March 31, said the airline expects to return to profitability later this year.

He said that corporate travel is only 40 percent of its pre-pandemic level.

American Airlines saw increased demand at Thanksgiving and Christmas, but at the end of the year American Airlines was hampered by staff shortages caused by Omicron.

American hired 16,000 people last year and plans to hire 18,000 this year.

In 2021 American Airlines reported that revenues were $9.43 billion, more than double that amount, and slightly above the $9.34 billion forecast from analysts.