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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel AMR 4Q loss narrows to $97 million Quarterly revenue jumped 10.3 percent from last year to $5.6 billion Source: AHN Reporter: Kris Alingod Location: Fort Worth, TX, United States Published: January 19, 2011 12:36 p.m. EST Topics: Earnings, Transport, Company Information, Business, Economy, Business And Finance, Air Transport AMR Corp., the parent company of American Airlines, posted a smaller-than-expected loss for the fourth quarter on Wednesday as the industry continued its rebound. Net loss for the period was $97 million, or 29 cents per share, compared to a loss of $344 million, or $1.03 per share, during the same quarter a year ago. The results include a $35 million tax benefit from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act passed last month, as well as $28 million for a non-cash charge related to write-downs. Adjusted for write-downs, net loss is $69 million, or 21 cents. The Fort Worth,TX-based company said quarterly revenue jumped 10.3 percent from last year to $5.6 billion. Passenger revenue for every available seat mile rose 7 percent, a sign of improved business travel market and a recovering economy, according to AMR. Adjusted for hedges and taxes, fuel expenses increased 11.5 percent and cost $171 million more than last year. AMR forecast mainline capacity for the first quarter of fiscal 2011 to rise 3.8 percent, with international capacity growing 7.7 percent. For the full year, capacity is expected to increase 3.6 percent, with international capacity up by 9.2 percent. To support its international growth, the company has ordered two wide-body jets from Boeing. The aircraft will be delivered next year. Republish Email Facebook Digg Twitter Buzz Up! 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