Reorganizing American Airlines Posts Highest Revenue in Company History

american airlinesAMR Corporation, the parent company of American Airlines, Inc., reported results for the fourth quarter and year ended December 31, 2012. The airline remains in reorganization.

Key points include revenue of $24.9 billion in 2012, the highest in company history AMR said and a full-year operating profit of $494 million, excluding special items, a $749 million improvement over 2011

In the fourth quarter, AMR reported a net profit of $262 million compared to a net loss of $1.1 billion in the fourth quarter of 2011. AMR's fourth quarter results include $350 million of net positive reorganization and special items, which are detailed below.

Excluding reorganization and special items, the net loss in the fourth quarter of 2012 was $88 million, a $121 million improvement from the prior year.

The fourth quarter of 2012 was negatively impacted by Hurricane Sandy and the early November snow storm in the Northeast and, separately, AMR said, by the residual headwind on fourth quarter bookings from the operational disruptions experienced in late September and early October. The cumulative impact from these events is estimated to have reduced net profits by $142 million.

For full-year 2012, American recorded a net loss of $1.9 billion, compared to 2011's full-year net loss of $2.0 billion. AMR's full year 2012 results include $1.7 billion of net negative reorganization and special items.

Excluding reorganization and special items, the net loss for 2012 was $130 million, a $932 million improvement over 2011, AMR said. The company's operating profit, excluding special items, of $494 million for 2012 was a $749 million improvement over last year.

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