Arab Today, arab today american airlines\ parent company suffers net loss of 238 million dollars in q3
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

American Airlines\' parent company suffers net loss of 238 million dollars in Q3

Arab Today, arab today

Arab Today, arab today American Airlines\' parent company suffers net loss of 238 million dollars in Q3

Houston - XINHUA

American Airlines\' parent company AMR Corp on Wednesday reported a wider quarterly net loss on worker severance costs and other costs related to its bankruptcy reorganization. The Fort Worth, Texas-based company\'s third-quarter net loss widened to 238 million U.S. dollars, or 71 cents a share, from 162 million dollars, or 48 cents a share, a year earlier. The results included 348 million in costs tied to worker severance and its Chapter 11 reorganization. But excluding the one-time items, AMR posted a profit of 110 million dollars for the third quarter, as fuel costs fell and revenue edged higher. Revenue rose 0.8 percent to 6.43 billion dollars. Operating expenses also rose 0.6 percent, but fuel costs fell 3.3 percent. The company, which had pilot absences and maintenance issues that led to wide flight cancellations and delays at American Airlines in the second half of September, said those problems had no material effect on its third-quarter results. AMR said that its core performance improved, adding that it made more money per passenger and flights were fuller than any quarter before. The company, which sought U.S. bankruptcy protection last November, on Tuesday asked for a one-month extension of a deadline for filing a plan to restructure and exit bankruptcy.

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