American reports Q3 2019 results; says MAX grounding will impact full-year 2019 pre-tax income

American Airlines has reported third-quarter 2019 pre-tax income of $557 million and net income of $425 million. Excluding net special items, both pre-tax income and net income rose more than 15% year over year to $835 million and $630 million, respectively. Strong passenger demand drove a 3% year-over-year increase in third-quarter 2019 total revenue to a record $11.9 billion. Driven by a three percentage point increase in total passenger load factor, passenger revenue per available seat mile (PRASM) grew 3%. Cargo revenue decreased 20% to $208 million due primarily to a 17% decrease in cargo ton miles. Other revenue was down