AMR Loss Narrows on Reduced Costs for Jet Fuel, Increased Fees

American Airlines parent AMR Corp. said its quarterly loss narrowed as the world’s second-largest carrier paid less for fuel and increased fees.

The net loss shrank to $344 million, or $1.03 a share, from $347 million, or $1.24, a year earlier, the Fort Worth, Texas- based company said today. Expenses slid 3.7 percent to $5.45 billion, led by $351 million in savings from jet fuel.

American, the first of the six biggest U.S. airlines to report fourth-quarter results, also benefited from higher charges for checked bags. Analysts expect five of the six carriers to post losses as they slashed fares to encourage leisure travel and the recession kept business passengers at home.

Read Full Article from BusinessWeek

- Posted: 2010-01-20 11:10:08

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