AMR, parent of American Airlines, swings to $289M 3Q profit by boosting revenue, cutting costs
Oct 17, 2013 / 1:34 pm
DALLAS - After years of losses, American Airlines is making money by boosting revenue and cutting labour costs.
Parent company AMR Corp. said Thursday that it earned $289 million, or 76 cents per share, in the third quarter. That's a turnaround from a loss of $238 million, or 71 cents per share, a year earlier.
Adjusted profit is a record $530 million. That figure doesn't include bankruptcy-reorganization costs and other special items.
Revenue is up 6 per cent, as passengers pay more per mile to fly. Labor costs are down 13 per cent from a year ago.
American and US Airways plan to merge if they can win or settle an antitrust lawsuit filed by the U.S. Justice Department.
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