News Summary: AMR swings to 4Q profit of $262M

AP News
Posted: Jan 16, 2013 12:57 PM

AMERICAN TURNAROUND: American Airlines parent AMR Corp. reported fourth-quarter net income of $262 million, bouncing back from a loss of $1.1 billion a year ago.

LABOR CUTS: The results were helped by a 13 percent reduction in labor costs — AMR ended 2012 with 4,000 fewer employees than it had at the start of the year.

SPECIAL ITEMS: AMR's results were helped by one-time gains such as a settlement of a business dispute and a tax benefit. Without one-time items, it would have lost $88 million, although that was still $121 million better than a year ago.