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American Airlines’ Parent Earns $289 Million In 3Q

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Photo by Bruce Bennett/Getty Images

DALLAS (AP) — After years of losses, American Airlines is making money by boosting revenue and cutting labor costs.

Parent company AMR Corp. said Thursday that it earned $289 million, or 76 cents per share, in the third quarter. That’s a turnaround from a loss of $238 million, or 71 cents per share, a year earlier.

Adjusted profit is a record $530 million. That figure doesn’t include bankruptcy-reorganization costs and other special items.

Revenue is up 6 percent, as passengers pay more per mile to fly. Labor costs are down 13 percent from a year ago.

American and US Airways plan to merge if they can win or settle an antitrust lawsuit filed by the U.S. Justice Department.


Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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