The world's largest air carrier, American Airlines Group, said Thursday it earned a record 480 million US dollars in the first quarter, a sharp improvement over the same period last year.

American Airlines, parent of American Airlines Inc. and US Airways Inc., announced its first full quarter financial results since the carriers' merger on Dec. 9.

Excluding special items, the company earned 402 million dollars in the first quarter, which is usually the weakest three-month period for airlines during the year. As separate airlines, American and US Airways lost 297 million dollars a year earlier.

"We are very pleased to report a record profit in our first full quarter as a merged company," AAG chief executive Doug Parker said in a statement. "In the entire history of American Airlines, we have never earned 400 million dollars in the first three months of a year, but in the first three months since the merger, we did."

The company's total revenues in the first quarter also reached a record 10 billion dollars, up 5.6 percent versus the first quarter 2013, according to the statement.

Though already merged, American and US Airways will operate as separate airlines with their own fleets and reservations systems for up to two years before phasing out the US Airways brand.

The two carriers and their regional subsidiaries operate an average of about 6,700 flights a day to 339 destinations in 54 countries.