AMR Corp. posts 1st quarter $92 million net loss
AMR Corp., parent company of American Airlines, Wednesday reported a first quarter net loss of $92 million, compared to a net loss of $162 million in the same quarter 2005.
Operating income was $115 million, a 400 percent increase over the $23 million reported in the first quarter last year. Revenue was $4.24 billion, up 10.5 percent from $3.84 billion posted in the year prior period with cargo revenue up 1.6 percent to $186 million. Cargo ton-miles decreased 3.3 percent to 521 million from 539 million.
AMR’s fuel bill in the latest quarter leaped 34.3 percent to $1.47 billion from $1.09 billion in the same quarter last year.
“A loss of any size is never satisfactory, but it is somewhat gratifying to have improved our first quarter results by $139 million year over year, despite paying $349 million more for fuel,” said Gerard Arpey, AMR chairman and chief executive officer.