AMR Has 2Q Loss Of $241M On Bankruptcy CostsJuly 18th, 2012 11:22 am Associated Press
DALLAS (AP) — American Airlines is reaping higher fares and record revenue but still losing money.
AMR Corp. said Wednesday that it narrowed its second-quarter loss to $241 million mostly because of $230 million in costs tied to its bankruptcy restructuring. A year ago, it lost $286 million.
There are glimmers of hope for a turnaround at American.
AMR’s revenue climbed 5.5 percent to $6.46 billion, a record for any quarter. Between American and regional affiliate American Eagle, planes were on average 85.1 percent full at the start of summer, also a company record.
American and AMR filed for bankruptcy protection in November. The company is seeking to cut labor costs and shed money-losing routes to return to profitability.