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Bankruptcy Costs Push AMR to Net Loss in May
Without bankruptcy fees, airline posts a slender profit
Wednesday, Jun 27, 2012 | Updated 9:22 AM CDT
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Without the bankruptcy costs, AA posts a slender $2 million profit.
The parent of American Airlines posted a net loss of $132 million in May but a slender profit of $2 million after excluding costs related to its bankruptcy case.
May's net loss for AMR Corp. was slightly smaller than April's, and revenue rose 6 percent from the previous month.
The Fort Worth-based company on Tuesday did not provide comparable figures for the same months last year.
AMR disclosed the results in a filing with the U.S. bankruptcy court in New York. AMR, since filing for Chapter 11 protection last November, has reported net losses totaling $2.8 billion including bankruptcy costs.
In May, AMR's revenue was $2.17 billion and operating expenses were $2.11 billion. Fuel was the biggest cost at $768 million.
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