American Airlines reported a first-quarter net profit of $700 million, down 24.9% from net income of $932 million in the 2015 March quarter, as revenue fell 4% year-over-year to $9.44 billion. American’s first-quarter mainline PRASM dropped 8.9% year-over-year to 11.4 cents, and president Scott Kirby said “we expect the revenue environment to remain challenging throughout 2016.” Speaking to analysts and reporters, he said a return to positive unit revenue growth is not ...

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