AMR Loss Narrows In February
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FORT WORTH (AP) - The parent company of American Airlines lost $192 million in February despite slashing labor costs by 20 percent from a year ago.
The loss was much narrower than in February 2012. That’s when Fort Worth-based AMR Corp. lost $619 million just a few months after filing for bankruptcy protection.
AMR reported the February results Thursday to bankruptcy court in New York. On Wednesday, the same court approved a plan for American to merge with US Airways Group Inc.
The merger still faces review by the U.S. Justice Department.
AMR says February revenue rose 1 percent, to $1.82 billion. Operating costs fell 2 percent.
Spending on wages, salaries and benefits dropped to $470 million from $584 million as the company eliminated thousands of jobs.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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