AMR Corp., the parent company of American Airlines, reported an
81-percent drop in first-quarter earnings to $56 million, before one-time
gains, including the sale of three non-airline subsidiaries.
A pilot job action in February led to the poor results. Total revenue at
AMR fell 3.3 percent to $4.5 billion. Cargo revenue dropped 11 percent to
$145 million.
AMR announced it will retire early nine DC-10s and 16 B727s to prepare
for slower international passenger growth expected in coming years.
American plans to take delivery of more than 115 new aircraft between 1999
and 2001.
AMR BATTERED BY STRIKE
AMR BATTERED BY STRIKE
