American Airlines parent reports $ 619 m February loss

Monday, 2 April 2012 00:05 - - {{hitsCtrl.values.hits}}

Reuters: AMR Corp, the bankrupt parent of American Airlines, reported on Friday a net loss of $ 619 million for February, including $ 375 million related to its reorganisation.

The company filed for Chapter 11 on 29 November, citing a need to cut its labour costs to better compete with profitable rivals.

AMR said its operating revenue amounted to $ 1.8 billion for the month and it spent $ 682 million on fuel. The company said it spent $ 584 million on wages, salaries and benefits.

The company ended the month with $ 4.6 billion in cash and short-term investments.