Summary Box: American Airlines parent has 3Q loss

AP News
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Posted: Oct 19, 2011 6:37 PM
Summary Box: American Airlines parent has 3Q loss

BY THE NUMBERS: American Airlines parent AMR Corp. reported Wednesday that it lost $162 million in the third quarter, as a 40 percent increase in fuel spending overshadowed more revenue from higher fares.

The loss of 48 cents per share was wider than the 43 cents per share forecast among analysts surveyed by FactSet.

LOSING STREAK: It was AMR's fourth straight losing quarter and 14th in the last 16. The company has lost more than $12 billion since 2001.

TURNAROUND PLAN: AMR hopes to fix its problems by controlling labor costs _ it's in negotiations now with pilots, flight attendants and ground workers _ and by expanding ties with foreign airlines to get more revenue from lucrative international travel.

The company also plans to order 460 planes, which should reduce fuel and maintenance spending, and makes flying more comfortable for passengers.