American Airlines confirms 2024 forecast despite Q1 loss [Video]

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American Airlines reported a quarterly loss Thursday on an uptick in labor and other operating costs as the carrier confirmed its full-year financial forecast.

The big US airline lost $312 million in the first quarter even as revenues rose 3.1 percent to $12.6 billion. Executives pointed to a recovery in business travel as a positive sign.

But operating expenses jumped 6.9 percent. Categories with significant increases included salaries, wages and benefits; and maintenance, materials and repairs.

Labor has been tight throughout the US aviation industry, leading to broad-based pay increases and …