AMR Corp. (AAMRQ.PK), the parent company of American Airlines, Inc., Wednesday said it swung to profit in the fourth quarter, helped mainly by a one-time gain from positive reorganization.
Net income for the quarter was $262 million or $0.69 per share, compared to a loss of $1.10 billion or $3.27 per share in the same period last year.
Fourth-quarter results included $350 million of net positive reorganization. Excluding this, loss for the quarter was $88 million, a $121 million improvement from the prior year.
Operating revenues dropped to $5.94 billion from $6.0 billion last year.
Operating expenses decreased to $5.9 billion from $6.7 billion last year.
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by RTT Staff Writer
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