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AMR Corp returns to profitability in 4Q2010, full year losses narrow

20-Jan-2011 12:37 PM

AMR Corp, parent of American Airlines, revenue up 10% - financial/traffic highlights:

  • Three months ended 31-Dec-2010:
    • Revenue: USD5586 million, +10.3% year-on-year;
    • Operating costs: USD5518 million, +1.2%;
      • Labour: USD1698 million, -1.2%;
      • Fuel: USD1656 million, +12.9%;
    • Operating profit: USD68 million, compared with a loss of USD390 million in p-c-p;
    • Net profit (loss): (USD97 million), compared with a loss of USD344 million in p-c-p;
    • Mainline operations:
      • Passenger traffic (RPMs): +3.7%;
      • Passenger load factor: 81.6%, +0.5 ppt;
      • Passenger yield: USD 13.52 cents, +6.5%;
      • Passenger revenue per ASM: USD 11.03 cents, +7.1%;
      • Cargo traffic: +2.8%;
      • Cargo yield: USD 37.25 cents, +7.0%;
      • Cost per ASM: USD 12.78 cents, -2.1%;
  • 12 months ended 31-Dec-2010:
    • Revenue: USD22,170 million, +11.3%;
    • Operating costs: USD21,862 million, +4.5%;
      • Labour: USD6847 million, +0.6%;
      • Fuel: USD6400 million, +15.3%;
    • Operating profit: USD308 million, compared with a loss of USD1004 million in p-c-p;
    • Net profit (loss): (USD471 million), compared with a loss of USD1468 million in p-c-p;
    • Mainline operations:
      • Passenger traffic (RPMs): +2.5%;
      • Passenger load factor: 81.9%, +1.2 ppt;
      • Passenger yield: USD 13.36 cents, +8.7%;
      • Passenger revenue per ASM: USD 10.94 cents, +10.4%;
      • Cargo traffic: +13.9%;
      • Cargo yield: USD 35.65 cents, +2.1%;
      • Cost per ASM: USD 12.62 cents, +3.2%;
  • 1Q2011 forecast:
    • Capacity (ASMs): +4.7%;
      • Mainline: +3.8%;
        • Domestic: +0.5%;
        • International: +9.2%;
    • Cost per ASM: +3.0%;
      •  
        • Mainline: +2.8%;
      • Excluding fuel: -1.8%;
        • Mainline; -1.6%;
  • FY2011 forecast:
    • Capacity: +4.3%;
      • Mainline: +3.6%;
        • Domestic: +1.0%;
        • International: +7.7%;
    • Cost per ASM: +4.1%;
      •  
        • Mainline: +3.8%;
      • Excluding fuel: stable;
        • Mainline: stable. [more] [more – Perspective]

AMR Corp: “In 2011, American will continue to enhance its own network and expand its relationship with quality carriers in the markets that are important to our customers. American is well positioned to capitalise on the opportunities unfolding in the marketplace. While the road forward is not without challenges, as we begin 2011, we are enthusiastic about the possibilities we see ahead,” Gerard Arpey, CEO. Source: AMR Corp, 19-Jan-2011.