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21-Oct-2010 1:01 PM

AMR Corp reports first quarterly profit in three years in 3Q2010

AMR Corp, parent of American Airlines, revenue up 14% - financial/traffic highlights for the three months ended 30-Sep-2010:

  • Revenue: USD5,842 million, +14.0% year-on-year;
  • Operating costs: USD5,500 million, +3.4%;
    • Labour: USD1,732 million, +1.8%;
    • Fuel: USD1,613 million, +11.0%;
  • Landing fees and other rentals: USD355 million, +3.2%;
  • Operating profit: USD342 million, compared to a loss of USD194 million in p-c-p;
  • Net profit: USD143 million, compared to a loss of USD359 million in p-c-p;
  • Cash and short-term investments: USD5,00 million, +8.7%;
  • Total debt: USD16,200 million, +3.2%;
  • Net debt: USD11,634 million, +0.3%;
  • Mainline operation:
    • Passenger traffic (RPMs): +3.7%;
    • Passenger load factor: 84.0%, stable;
    • Cargo traffic (FTMs): +14.6%;
    • Passenger yield: USD 13.28 cents, +10.7%;
    • Passenger revenue per ASM: USD 11.15 cents, +10.7%;
    • Cargo yield: USD 35.19 cents, +7.3%;
    • Cost per ASM: USD 12.20 cents, -0.8%;
  • 4QFY2010 forecast:
    • Capacity: +4.1%;
      • Mainline: +3.4%;
        • Domestic: +0.5%;
        • International: +8.2%;
    • Cost per ASM: -0.2%;
      • Mainline: -0.5%;
    • Cost per ASM excl fuel: -3.3%;
      • Mainline: -3.5%;
  • FY2010 forecast:
    • Capacity: +1.4%;
      • Mainline: +1.0%;
        • Domestic: +0.2%;
        • International: +2.4%;
    • Cost per ASM: +4.4%;
      • Mainline: +4.4%;
    • Cost per ASM excl fuel: +1.1%;
      • Mainline: +1.2%. [more]

AMR Corp: “The estimated 1.1 percent increase in consolidated cost per seat mile, excluding fuel and special items, for 2010 is primarily due to anticipated higher revenue−related expenses (such as credit card fees, commissions, and booking fees), airport−related expenses (such as landing fees and facilities costs), and financing costs related to new aircraft deliveries,” Company statement. Source: AMR Corp, 20-Oct-2010.

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