American Airlines (AA) parent AMR Corp., which is restructuring via the Chapter 11 bankruptcy process, incurred a $1.66 billion net loss in the first quarter, according to a filing Thursday with the US Securities and Exchange Commission (SEC).
The loss was widened from a $436 million net deficit in the 2011 March quarter. The results include $1.4 billion in reorganization items. First-quarter revenue increased 9.1% year-over-year to $6.04 billion while expenses rose 6.3% to $6.13 billion. AA’s aircraft fuel costs heightened 17.5% to $2.17 billion.
Operating loss was $89 million, narrowed from a $232 million operating deficit in the prior-year quarter.
First-quarter consolidated passenger yield increased 7.4% year-over-year with mainline yield rising 7.3%, according to the airline.
Article Source : ATW Daily News
No comments:
Post a Comment