AMR Corp falls into the red in 2Q2011
AMR Corp, parent of American Airlines, revenue up 8% - financial highlights:
- Three months ended 30-Jun-2011:
- Operating revenue: USD6114 million, +7.8% year-on-year;
- Operating costs: USD6192 million, +13.0%;
- Fuel: USD2202 million, +33.1%;
- Labour: USD1764 million, +2.9%;
- Operating profit (loss): (USD78 million), compared to a profit of USD196 million in p-c-p;
- Net profit (loss): (USD286 million), compared to a loss of USD11 million in p-c-p;
- Mainline traffic:
- Passenger traffic (RPMs): +1.8%;
- Passenger load factor: 83.6%, -0.3 ppt;
- Passenger yield: USD 13.9 cents, +4.6%;
- Passenger revenue per ASM: USD 11.62 cents, +4.3%;
- Operating costs per ASM*: USD 13.86 cents, +9.7%;
- Six months ended 30-Jun-2011:
- Operating revenue: USD11,647 million, +8.4%;
- Operating costs: USD11,956 million, +10.3%;
- Fuel: USD4044 million, +29.2%;
- Labour: USD3486 million, +2.0%;
- Operating profit (loss): (USD309 million), compared to a loss of USD102 million in p-c-p;
- Net profit (loss): (USD722 million), compared to a loss of USD516 million in p-c-p;
- Mainline traffic:
- Passenger traffic (RPMs): +1.7%;
- Passenger load factor: 80.4%, -0.6 ppt;
- Passenger yield: USD 14.03 cents, +5.4%;
- Passenger revenue per ASM: USD 11.28 cents, +4.6%;
- Operating costs per ASM**: USD 13.63 cents, +6.8%;
- Cash and short-term investments: USD5,600 million, +1.8%;
- Net debt: USD11,900 million, +8.2%;
- 3Q2011 forecast:
- Cost per ASM: +13.1% to +13.5%;
- Excluding fuel: +2.6% to +3.0%;
- FY2011 forecast:
- Cost per ASM: +9.0% to +10.0%;
- Excluding fuel: +0.5% to +1.5%. [more]
*Excludes USD793 million and USD662 million of expense incurred related to Regional Affiliates in 2011 and 2010, respectively
**Excludes USD1.5 billion and USD1.3 billion of expense incurred related to Regional Affiliates in 2011 and 2010, respectively
AMR: "This past quarter was challenging in many respects. We remain acutely focused on taking the necessary steps to manage through our near-term challenges while continuing to lay the foundation for long-term success. We believe we have the right framework under our Flight Plan 2020 strategy to achieve our long-term objectives for the benefit of all our stakeholders, and today we took several major steps forward," Gerard Arpey, Chairman and CEO. Source: AMR Corp, 20-Jul-2011.