American Airlines' parent company AMR reports $328-million loss

[MarkInLA]

Source: Los Angeles Times

Rising fuel costs drive firm's biggest shortfall in more than two years. Results don't reflect additional losses due to flight cancellations. Shares rise nearly 10% nonetheless.

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With American Airlines hit hard by rising fuel costs, its parent company AMR Inc. lost $328 million in the first quarter, the biggest loss for the nation's largest carrier in more than two years.

The latest financial results for the period ending March 31 did not include the "tens of millions of dollars" that American said it expected in lost revenue and expenses related to last week's cancellation of thousands of flights because of missed aircraft inspections. Those losses will be reflected in second-quarter results.


Read more: http://www.latimes.com/business/la-fi-amr17apr17,0,6197019.story