AMR has 2Q loss of $241M on bankruptcy costs

[July 18, 2012]  DALLAS (AP) -- American Airlines is reaping higher fares and record revenue but still losing money.

AMR Corp. said Wednesday that it narrowed its second-quarter loss to $241 million mostly because of $230 million in costs tied to its bankruptcy restructuring. A year ago, it lost $286 million.

There are glimmers of hope for a turnaround at American.

AMR's revenue climbed 5.5 percent to $6.46 billion, a record for any quarter. Between American and regional affiliate American Eagle, planes were on average 85.1 percent full at the start of summer, also a company record.

American and AMR filed for bankruptcy protection in November. The company is seeking to cut labor costs and shed money-losing routes to return to profitability.

[Associated Press; By DAVID KOENIG]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.