American Airlines posts record profits, plans new HQ

American Airlines Inc. (Nasdaq: AAL) has reported it earned a record third-quarter net profit of $1.7 billion, or $2.49 per diluted share, which compares to $942 million, or $1.28 per diluted share, in the same quarter last year.

The company’s total revenue was down 3.9 percent at $10.7 billion, but expenses declined nearly 12 percent compared to a year ago, thanks largely to a 43.5 percent drop in consolidated fuel expenses.

The news comes as American Airlines’ announced late last week it plans to build a new headquarters on 300 acres in Fort Worth, Texas. Total costs have yet to be determined.

Read more from The Dallas Morning News.