American Airlines woes

[marmar]

DALLAS (AP) -- Even higher fares couldn't pull American Airlines out of its financial nosedive.

American's parent, AMR Corp., said today that it lost $162 million in the third quarter, as fuel spending jumped 40 percent, wiping out higher revenue from fare increases and passenger fees.

It was AMR's fourth straight losing quarter and 14th in the last 16. In last year's third quarter -- often the strongest of the year for airlines because of heavy summer travel -- AMR earned $143 million, or 39 cents per share.

AMR hasn't turned a full-year profit since 2007, and it has lost more than $12 billion since 2001, adding to speculation that it could be headed toward bankruptcy protection. ............(more)

The complete piece is at: http://www.dispatch.com/content/stories/business/2011/10/19/even-higher-fares-cant-help-american-airlines.html