Air- American Airlines parent cuts labor costs, posts $262M Q4 profit- USA Today

Posted: January 18, 2013 in Uncategorized

Jan. 16, 2013

Revenue ticked down to $5.94 billion from $5.96 billion a year earlier.The quarter included disruptions from Superstorm Sandy and fallout from what the company called a pilot work slowdown. American ranked last among the 15 biggest U.S. airlines in on-time arrivals during November, according to government figures.The fourth-quarter profit, even one earned with the benefit of one-time gains, comes as AMR continues to study whether it should merge with US Airways or exit bankruptcy on its own. CEO Thomas Horton has promised a decision within weeks.ARCHIVES: American Airlines is first in USA to get new Boeing 777 Dec. 2012American is the nation’s third-biggest airline and US Airways ranks fifth in passenger traffic. Combined, however, they would be roughly the same size as world leader United Airlines and slightly bigger than Delta Air Lines.AMR filed for bankruptcy protection in November 2011 after losing more than $10 billion over the previous decade. For all of 2012, it lost $1.9 billion, much of which was due to restructuring costs. Without those items, the company said its full-year loss would have been $130 million, a $932 million improvement over 2011.”We have made enormous progress towards building the new American,” Horton said in a statement. “With what we have accomplished, we expect to show strong results beginning in the first quarter of 2013.”

http://www.usatoday.com/story/travel/flights/2013/01/16/american-airlines-cuts-labor-costs-posts-262m-q4-profit/1839241/

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