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http://www.marketwatch.com/news/sto...3EC-C60C-4915-B35A-03B4C29C071E}&siteid=yhoof
AMR swings to a fourth-quarter loss
Record high fuel prices took a $412 million bite out of earnings
By Christopher Hinton, MarketWatch
NEW YORK (MarketWatch) -- AMR Corp., parent company to American Airlines, reported Wednesday that it swung to a fourth-quarter loss due significantly to record fuel prices.
For the quarter ended Dec. 31, the Fort Worth, Texas-based company said it lost $69 million, or 28 cents a share, compared to a gain of $17 million, or 7 cents a share in the year-ago period.
Excluding about $115 million in one-time benefits, AMR said it would have reported a loss of 74 cents a share in the most recent quarter. Analysts polled by Thomson Financial expected a loss of 71 cents a share.
"While record fuel prices contributed significantly to our fourth quarter loss -- our first quarterly loss after six straight profitable quarters -- they are a reminder of the challenges we must continue to overcome as we strive for consistent and adequate profitability," said Chief Executive Gerard Arpey, in a statement.
http://www.marketwatch.com/tools/quotes/intchart.asp?symb=AMR
American Airlines mainline cost per available seat mile, excluding special items, jumped 8.6% from a year ago because of higher fuel costs. Altogether, fuel expenses were $412 million higher in the quarter from last year.
Sales in the fourth quarter rose 4.6% to $5.6 billion. Analysts expected, on average, sales of $5.69 billion.
AMR 12.76, -0.44, -3.3%) shares recently fell in premarket trading, down almost 2% to $12.95. The stock has been under pressure over the last year, falling more than 65% since last January.
Like many airline carriers, AMR has been slammed with higher fuel costs, generally the single largest expense for any airline. Operators have been raising airfare prices and fuel surcharges when possible, but a recent surcharge increase to $25 each way failed.
AMR is the first of the so-called legacy carriers to report its fourth-quarter results.
AMR swings to a fourth-quarter loss
Record high fuel prices took a $412 million bite out of earnings
By Christopher Hinton, MarketWatch
NEW YORK (MarketWatch) -- AMR Corp., parent company to American Airlines, reported Wednesday that it swung to a fourth-quarter loss due significantly to record fuel prices.
For the quarter ended Dec. 31, the Fort Worth, Texas-based company said it lost $69 million, or 28 cents a share, compared to a gain of $17 million, or 7 cents a share in the year-ago period.
Excluding about $115 million in one-time benefits, AMR said it would have reported a loss of 74 cents a share in the most recent quarter. Analysts polled by Thomson Financial expected a loss of 71 cents a share.
"While record fuel prices contributed significantly to our fourth quarter loss -- our first quarterly loss after six straight profitable quarters -- they are a reminder of the challenges we must continue to overcome as we strive for consistent and adequate profitability," said Chief Executive Gerard Arpey, in a statement.
http://www.marketwatch.com/tools/quotes/intchart.asp?symb=AMR
American Airlines mainline cost per available seat mile, excluding special items, jumped 8.6% from a year ago because of higher fuel costs. Altogether, fuel expenses were $412 million higher in the quarter from last year.
Sales in the fourth quarter rose 4.6% to $5.6 billion. Analysts expected, on average, sales of $5.69 billion.
AMR 12.76, -0.44, -3.3%) shares recently fell in premarket trading, down almost 2% to $12.95. The stock has been under pressure over the last year, falling more than 65% since last January.
Like many airline carriers, AMR has been slammed with higher fuel costs, generally the single largest expense for any airline. Operators have been raising airfare prices and fuel surcharges when possible, but a recent surcharge increase to $25 each way failed.
AMR is the first of the so-called legacy carriers to report its fourth-quarter results.
