AMR Corp. (AAMRQ) swung to a third-quarter profit as the airline
posted fewer reorganization and merger charges, while revenue
increased.
The company, the parent of American Airlines, reported a
quarterly adjusted profit of $530 million, excluding $241 million
of reorganization and special items. A year-earlier, AMR reported
adjusted earnings of $110 million, excluding $348 million for such
items.
AMR, which hopes to exit bankruptcy by way of a merger with US
Airways Group Inc. (LCC), expects fourth-quarter capacity will be
up 3.5%. For the year, AMR continues to expect a 1.5% increase in
capacity.
AMR reported a net profit of $289 million, compared with a
year-earlier loss of $238 million. Revenue was $6.83 billion, up
6.2% from a year ago.
Consolidated unit costs, excluding fuel and special items, were
down 5%, primarily driven by AMR's restructuring efforts.
In the latest period, company-wide passenger revenue per
available seat mile--an important measure of performance for the
airline industry--grew 3.4%.
The percentage of seats filled--known as load factor--was up to
85% from 84.3%.
The Justice Department is seeking to block the merger with U.S.
Airways on competition concerns. A trial is set for next month.
Write to Ben Fox Rubin at ben.rubin@wsj.com
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