What caused American Airlines' net profit volatility since 2022?

American Airlines' net profit volatility since 2022 can be attributed to a combination of factors: 1. **Operational Costs**: Higher flight costs, including onboard food, catering, ground handling, crew travel, and airport lounge expenses, have increased operating expenses, impacting net profit margins. 2. **Market Share and Revenue**: American Airlines has faced challenges in maintaining market share, particularly in the corporate travel segment, which has affected revenue generation. The company's network may be more vulnerable to oversupplied markets and higher costs, making it more challenging to manage profitability. 3. **Strategic Initiatives**: The airline has implemented strategic initiatives aimed at bolstering its competitive position and financial performance, which may have had an impact on net profit margins. For example, the company's updated guidance for Q4 2024 suggests improved financial performance, but it remains to be seen how this will translate into net profit volatility. 4. **External Factors**: External risks such as economic downturns and legal issues can also impact net profit margins. American Airlines manages these risks through compliance and caution in financial statements, but they can still have an effect on profitability. In summary, American Airlines' net profit volatility since 2022 is likely a result of a combination of operational costs, market share and revenue, strategic initiatives, and external factors.