American Airlines posts record quarterly profit

American Airlines posted a record profit in the first quarter of $932 million or $1.30 per share.

Not counting special items the world's largest airline also reported a record first quarter profit of $1.2 billion, or $1.73 per share, three times the profit earned at the start of 2014.

In morning trading, AAL was up .81% to $51.87 a share.

"We are pleased to report record first quarter profits, exceeding the prior record set just last year,"Doug Parker, CEO of American Airlines Group, said in a statement.

Passenger revenue per available seat mile is expected to decline 4% to 6% in the second quarter when compared to that period in 2014 due to a variety of factors, including increased competition, and the impact of a strong dollar versus weaker foreign currencies.

Still, "while there are some near term capacity and currency headwinds . . .. we remain positive about the long term demand trends, '' said American's president Scott Kirby,