American Airlines reported a $312 million first-quarter loss for 2024 on Thursday. The Fort Worth-based airline, which had to adjust for costs associated with new labor contracts, took $86 million in charges for one-time events including expenses from new labor deals.

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.

American Airlines reported a loss of $312 million in the first quarter of 2024 despite its efforts to combat rising costs.

American Airlines forecast current-quarter profit largely above analysts' expectations on Thursday, amid a rebound in business travel and expectations of strong demand in the upcoming summer season.

American Airlines, currently carrying a Zacks Rank #3 (Hold), reduced total debt by nearly $950 million in the March quarter. AAL is now more than 80% of the way to its 2025 total debt reduction goal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.