American Airlines reported a 2016 second-quarter net profit of $950 million, down 44.3% from $1.7 billion in net income in the 2015 June quarter, as revenue fell 4.3% year-over-year to $10.36 billion. The Dallas/Fort Worth-based airline noted that the quarter’s earnings were negatively affected by a $541 million non-cash tax provision that CFO Derek Kerr said skews year-over-year comparisons. He argued that a more accurate indicator is pre-tax profit excluding special items; on that ...

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