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%;
- Mainline: +3.4%;
- Cost per ASM: -0.2%;
- Mainline: -0.5%;
- Cost per ASM excl fuel: -3.3%;
- Mainline: -3.5%;
- Capacity: +4.1%;
- FY2010 forecast:
- Capacity: +1.4%;
- Mainline: +1.0%;
- Domestic: +0.2%;
- International: +2.4%;
- Mainline: +1.0%;
- Cost per ASM: +4.4%;
- Mainline: +4.4%;
- Cost per ASM excl fuel: +1.1%;
- Mainline: +1.2%. [more]
- Capacity: +1.4%;
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.