AMR Returns To Profit

AMR Corporation, parent company of American Airlines, is back in the black having cleared a net profit of $220m during the 2Q 2013. This includes $137m spent on reorganisation costs and special items. Excluding these one off costs, AMR took $357m in net profit and $502m in operating profit, up $262m and $347m from last year, respectively. "American delivered its best financial performance for a second quarter, excluding special items, in the company's history," said Tom Horton, AMR's chairman, president and CEO. "And the momentum is building as we plan for the impending merger with US Airways.” AA and US plan to complete their merger in the 3Q 2013. Consolidated unit costs, excluding fuel and special items, improved 5.8 per cent year-on-year. During the quarter, AA took delivery of nine 737-800s and three 777-300ERs. It has taken a total of 24 new aircraft during the year so far.

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