American Airlines Group Inc. announced unaudited consolidated earnings and traffic results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total operating revenues of $10,600 million compared with $9,789 million for the same period a year ago. Operating income was $690 million compared with $767 million for the same period a year ago. Income before income taxes was $425 million compared with $500 million for the same period a year ago. Net income was $258 million or $0.54 per diluted share compared with $289 million or $0.56 per diluted share for the same period a year ago. Pre-tax income excluding special items was $739 million compared with $773 million for the same period a year ago. Net income excluding special items was $455 million or $0.95 per diluted share compared with $475 million or $0.92 per diluted share for the same period a year ago. Operating income excluding special items was $993 million compared with $1,028 million for the same period a year ago.

For the full year, the company reported total operating revenues of $42,207 million compared with $40,180 million for the same period a year ago. Operating income was $4,058 million compared with $5,284 million for the same period a year ago. Income before income taxes was $3,084 million compared with $4,299 million for the same period a year ago. Net income was $1,919 million or $3.90 per diluted share compared with $2,676 million or $4.81 per diluted share for the same period a year ago. Pre-tax income excluding special items was $3,840 million compared with $5,071 million for the same period a year ago. Net income excluding special items was $2,399 million or $4.88 per diluted share compared with $3,173 million or $5.71 per diluted share for the same period a year ago. Operating income excluding special items was $4,792 million compared with $6,007 million for the same period a year ago.

For the quarter, the company reported revenue passenger miles of 55,327 million compared with 53,452 million for the same period a year ago. Available seat miles were 67,355 million compared with 65,683 million for the same period a year ago. Passenger load factor was 82.1% compared with 81.4% for the same period a year ago.

For the year, the company reported revenue passenger miles of 226,346 million compared with 223,477 million for the same period a year ago. Available seat miles were 276,493 million compared with 273,410 million for the same period a year ago. Passenger load factor was 81.9% compared with 81.7% for the same period a year ago.

The company provides earnings guidance for the first quarter and full year 2018. For the quarter, the company expects pre-tax margin excluding special items to be between 2.0% and 4.0%.

For the full year, the company presently expects its 2018 diluted earnings per share excluding net special items to be between $5.50 and $6.50. For the full year, the company expects gross CapEx to total $1.8 billion as compared to $4.1 billion in 2017.