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February 28, 2013

AMR posts $44 million profit in January

AMR made $44 million in January, according to a bankruptcy filing made on Thursday.

Excluding $46 million in other expenses primarily related to interest expense, the Fort Worth-based carrier posted an operating monthly net profit of $91 million. During the bankruptcy process, AMR is required to file monthly financial reports with the court.

“Our strong financial results in January reflect the increasing positive momentum from our restructuring and highlight the significant progress we are making towards building the new American," said American spokesman Sean Collins.

The company said it spent $12 million on professional fees during the month. It also received $12 million on "other" reorganization items which are not detailed in the report.

AMR also said that its mainline carrier, American Airlines, had passenger revenues of $1.6 billion with its regional affiliates, including American Eagle, bringing in $226 million in revenues. Total revenues for the month were $2.08 billion.

The company ended the month with $604 million in cash and $3.4 billion in short-term investments for a total of about $4.0 billion on hand. That number is down from $4.0 billion in November and does not include $850 million in restricted cash.

-Andrea Ahles

Read more here: http://blogs.star-telegram.com/sky_talk/2013/01/amr-reports-773-million-profit-in-december.html#storylink=cpy


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