American Airlines Group—in its second reporting period since the merger last December of American Airlines and US Airways—reported a record-setting net profit of $864 million, up 70.4% year-over-year from the combined carriers’ $507 million net profit in the 2013 June quarter. Pre-merger, American Airlines’ standalone 2013 second-quarter net profit was $220 million; US Airways’ standalone 2013 second-quarter net profit was $287 million. On a non-GAAP basis, ...

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