Operating under Chapter 11 status has not stopped the steady flow of red ink at American Airlines (AA) parent AMR Corp.
The bankrupt company, which incurred a $2 billion net loss in 2011 , reported a $234 million net loss for the month of January, according to a US Securities and Exchange Commission (SEC) filing.
Revenue generated during the month totaled $2.03 billion while costs were $2.04 billion, producing a $5 million operating loss. Net profit was affected by $170 million in reorganization charges and more than $60 million in interest expenses incurred in January.
Aircraft fuel was the airline's highest monthly expense at $704 million, followed by labor at $601 million. AA is attempting to cut $1.25 billion in annual labor expenses.
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