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AA Reports Third Quarter ResultsOctober 17, 2008 By: George Dooley
American Airlines (AA), after announcing its purchase agreement with Boeing, reported that, excluding special items, it recorded a third quarter net loss of $360 million as higher fuel prices drove $1.1 billion in increased fuel expenses compared to a year ago. Revenue increased 10.9 percent and consolidated capacity is expected to be more than 9 percent lower in 2009 than 2007; mainline domestic capacity in 2009 is expected to be about 14 percent lower than 2007, AA said. When other factors are considered including sale of assets, AA had a net profit of $45 million for the third quarter of 2008.