The parent of American Airlines lost 1,700 million dollars in the first quarter
The parent of American Airlines, AMR, it lost 1,700 million dollars in the first quarter compared with a loss of 436 million the same period of 2011 due to restructuring costs of business, today announced the firm, which filed for bankruptcy last November.
The airline based in Fort Worth (Texas) has stated in a statement that of these 1,700 million dollars in losses, about 1,400 million were costs related to the reorganization process that records from which filed for Chapter 11 of the Act U.S. Bankruptcy last year.
Thus, excluding these costs and special items, AMR’s net loss stood at 248 million dollars between January and March, down from a loss – also excluded those elements, of which $ 405 million recorded in the same three months the previous year.
Meanwhile, revenues from the matrix of the third-largest U.S. carrier is placed at 6,000 million, an increase of 9.1% yoy, largely due to the increase of 7.4% applied to the price of its rates in those three months.
Despite this increase in ticket prices to their flights, American Airlines managed to fill 79% of its seats available between January and March, compared with 77.1% of the same three months of 2011.
“The behavior of the company’s revenue was driven by significant demand and a positive environment for prices that resulted in higher load factors and better performance,” the company said.
Last November, American Airlines filed for bankruptcy to restructure its massive debt, which amounted to 29,550 million, lower their costs and try to become competitive again, while this January its shares ceased trading on the New York Stock Exchange.
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