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AMR Corp reports sharp profit declines in 3Q2011

20-Oct-2011 1:05 PM

AMR Corp revenue up 9% - financial highlights for the three months ended 30-Sep-2011:

  • Total operating revenue: USD6376 million, +9.1% year-on-year;
  • Total operating costs: USD6337 million, +15.2%;
    • Fuel: USD2255 million, +39.8%;
    • Labour: USD1776 million, +2.6%;
  • Operating profit: USD39 million, -88.5%;
  • Net profit (loss): (USD162 million), compared to a profit of USD143 million in p-c-p;
  • Mainline operating results:
  • Passenger traffic (RPMs): +1.0%;
  • Passenger load factor: 84.9%, +0.9 ppt;
  • Passenger revenue per RPM: USD 14.21 cents, +7.0%;
  • Passenger revenue per ASM: USD 12.06 cents, +8.1%;
  • Cargo traffic (FTMs): -6.7%;
  • Cargo yield: USD 39.54 cents, +12.3%;
  • Operating costs per ASM: USD 13.93 cents, +14.2%;
  • Total assets: USD22,877 million, +2.0% when compared to period ended 31-Dec-2010;
  • Cash: USD301 million, +82.4% when compared to period ended 31-Dec-2010;
  • Total liabilities: USD15,670 million, -2.6% when compared to period ended 31-Dec-2010. [more – original PR][more - CAPA Analysis]

AMR Corp: "While the third quarter was challenging for American Airlines, we are taking aggressive actions to improve the company's performance and strengthen its foundation for long-term success. We have put in place many of the critical building blocks for a successful future, including a strong network and alliance partnerships, accelerated fleet renewal plans and innovative products and services to enhance our customers' experience. At this point, our immediate top priority is to address the key remaining foundational issue, which is our cost structure, so that we can change the competitive dynamics and move our company forward on the path to profitability," Gerard Arpey, chairman and CEO. Source: AMR Corp, 19-Oct-2011.