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AMR Corp revenue up 4.7% but losses widen in 1Q2010

22-Apr-2010 1:46 PM

AMR Corp, parent of American Airlines, revenue up 4.7% - financial highlights for the three months ended 31-Mar-2010:

  • Total operating revenue: USD5,068 million, +4.7% year-on-year;
  • Total operating costs: USD5,366 million, +6.6%;
    • Labour: USD1,703 million, +0.9%;
    • Fuel: USD1,476 million, +13.7%;
  • Operating profit (loss): (USD298 million), compared to a loss of USD194 million in the previous corresponding period;
  • Net profit (loss): (USD505 million), compared to a loss of USD375 million in the previous corresponding period;
  • Mainline operations:
    • Passenger traffic (RPMs): +0.4%;
    • Passenger load factor: 77.9%, +2.2 ppts;
    • Passenger yield: USD 13.35 cents, +3.7%;
    • Passenger revenue per ASM: USD 10.40 cents, +6.8%;
    • Cargo yield: USD 34.37 cents, -11.7%;
    • Operating cost per ASM*: USD 12.91 cents, +9.2%;
    • Operating cost per ASM excl special items and fuel: USD 9.15 cents, +5.7%;
  • 2Q2010 Forecast:
    • Capacity (ASMs): +1.0%;
      • Mainline: +0.7%;
    • Operating cost per ASM: USD 13.32 cents, +8.0%;
      • Mainline: USD 12.71 cents, +8.1%;
    • Operating cost per ASM excl special items and fuel: USD 9.24 cents, +3.4%;
      • Mainline: USD 8.77 cents, +3.7%;
  • FY2010 Forecast:
    • Capacity (ASMs): +1.5%;
      • Mainline: +1.0%;
    • Operating cost per ASM: USD 13.37 cents, +4.4%;
      • Mainline: USD 12.74 cents, +4.3%;
    • Operating cost per ASM excl special items and fuel: USD 9.33 cents, +1.5%;
      • Mainline: USD 8.85 cents, +1.6%. [more]

*Excludes regional affiliates and USD629 million and USD596 million of expenses incurred related to Regional Affiliates in 2010 and 2009, respectively

AMR Corp: "While we made significant progress in improving revenue performance in the first quarter and enhancing our competitive position, we were simply unable to overcome the challenges of the global economic environment coupled with once-again escalating fuel prices. As we move forward, we remain focused on continuing to bolster our domestic and international networks, managing our costs, and finding ways to generate additional revenue," Gerard Arpey, Chairman and CEO. Source: AMR Corp, 21-Apr-2010.