American posts quarterly loss

American posts quarterly loss

American achieved record load factors in Q3
American achieved record load factors in Q3

American Airlines has posted a US$238 million net loss for the third quarter ending 30 September 2012.

The airline, which is currently restructuring following its bankruptcy protection filing late last year, saw a slight 0.8% rise in revenues, to US$6.43 billion, which helped it generate an operating profit of US$51m.

The airline was hit by reorganization costs and special charges however, which caused the net loss to widen year-on-year.

Tom Horton, Chairman & CEO of American’s parent company, AMR Corp, remained positive about the result. “I want to thank my American colleagues for their efforts,” he said. “These results were driven by the best unit revenue growth in the industry in each month of the quarter, and by record load factor, as we continue to make progress in our restructuring for a successful future.”

American’s consolidated passenger yield increased 3.5% year-on-year in the quarter, while mainline passenger yield increased 3.7%. Mainline load factors reached 85.5% – a record for any quarter in American’s history.

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