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April 30, 2013

American reports $193 million loss for March

In its monthly operating report filed with the bankruptcy court, American Airlines said it had a $193 million loss in March.

The report was filed on Tuesday.

Excluding $314 million in reorganization fees and other accounting items, the Fort Worth-based carrier would have posted a monthly net profit of $121 million. During the bankruptcy process, AMR is required to file monthly financial reports with the court.

The company said it spent $129 million on aircraft financing renegotiations and rejections and $13 million on professional fees during the month. It also spent $3 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 $1.7 billion with its regional affiliates, including American Eagle, bringing in $253 million in revenues. Total revenues for the month were $2.19 billion.

The company ended the month with $602 million in cash and $3.6 billion in short-term investments for a total of about $4.2 billion on hand. That number does not include $853 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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