American Airlines Reports Loss for Quarter and Year

AMR Corporation, the parent company of American Airlines, Inc. (AA), reported a consolidated net loss of $1.1 billion for the fourth quarter of 2011 compared to a consolidated net loss of $97 million in the fourth quarter of 2010.

Excluding special items, the loss in the fourth quarter of 2011 was $209 million, which compares to a loss, excluding special items, of $69 million in the same period of 2010, AA said.

For fiscal 2011, AMR reported a consolidated net loss of approximately $2.0 billion, which compares to a consolidated net loss of $471 million for fiscal 2010.

AMR recorded fourth quarter 2011 consolidated revenues of approximately $6.0 billion, an increase of 7.4 percent year-over-year. AA's mainline passenger revenue per available seat mile (unit revenue) increased by 8.9 percent in fourth quarter 2011 compared to fourth quarter 2010.

Mainline capacity, or total available seat miles, in fourth quarter 2011 decreased by 1.9 percent compared to the same period in 2010.  American's mainline load factor – or the percentage of total seats filled – was 82.1 percent during fourth quarter 2011, compared to 81.6 percent in fourth quarter 2010.

Taking into account the impact of fuel hedging, AMR said it paid approximately $3.01 per gallon for jet fuel in the fourth quarter of 2011 versus approximately $2.42 per gallon in fourth quarter 2010, a 24.5 percent increase. As a result, the company paid $394 million more for fuel in fourth quarter 2011 than it would have paid at prevailing prices from the prior-year period.
 
Excluding special items the company reported its consolidated net loss was approximately $1.1 billion in 2011, versus a consolidated net loss of $389 million excluding special items in 2010.

For fiscal year 2011, including the impact of fuel hedging, AMR paid an average of $3.01 per gallon for jet fuel compared to an average of $2.32 in 2010, a 30.1 percent increase. As a result, the Company paid nearly $2.0 billion more for jet fuel in full-year 2011 than it would have paid at prevailing prices in the prior full-year period.

AMR is currently in reorganization.

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