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March 28, 2013

AMR reports $192 million loss for February

American Airlines parent company, AMR Corp., which has operated under bankruptcy protection since November 2011, lost $192 million in February. 

As part of its restructuring, AMR announced in February that it plans to merge with US Airways and the bankruptcy court approved the merger agreement on Wednesday. The merger is expected to close in the third quarter.

Excluding $15 million in reorganization fees, the carrier posted an operating monthly loss of $177 million. During bankruptcy, AMR is required to file monthly financial reports with the court.

The company said it spent $14 million on professional fees during the month and $1 million on financing negotiations.

AMR said its mainline operations at American had passenger revenue of $1.4 billion. Its regional affiliates, including American Eagle, brought in $200 million. Total revenue for the month was $1.8 billion.

The company ended the month with $584 million in cash and $3.4 billion in short-term investments, for a total of about $4 billion on hand. That does not include $850 million in restricted cash.

-Andrea Ahles


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