American Airlines’ parent earns $289 million in 3Q
DALLAS (AP) — After years of losses, American Airlines is making money by boosting revenue and cutting labor costs.
Parent company AMR Corp. said Thursday that it earned $289 million, or 76 cents per share, in the third quarter. That’s a turnaround from a loss of $238 million, or 71 cents per share, a year earlier.
Adjusted profit is a record $530 million. That figure doesn’t include bankruptcy-reorganization costs and other special items.
Revenue is up 6 percent, as passengers pay more per mile to fly. Labor costs are down 13 percent from a year ago.
American and US Airways plan to merge if they can win or settle an antitrust lawsuit filed by the U.S. Justice Department.