American posts record profits

American Airlines Group has announced that during Q2 of 2014 it achieved record net profits of $1.5bn.

The group, which was formed last December after the merger with US Airways, confirms that the two companies together have achieved profits in Q2 that were double what they achieved as separate entities last year.

Alongside the financial results, the group announced a capital deployment programme, which will see the firm spend more than $2.8bn on debt and aircraft lease prepayments and launch a $1bn share buy-back programme.

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