Mish's Global Economic Trend Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Chispas	7/16/2008 10:18:33 AM
	Read Replies (2) of 116555

AMR loses $1.4 billion in second quarter . Andrea Ahles, Star-Telegram, 07-16-08 FORT WORTH -- AMR Corp., the parent company of American Airlines, reported a $1.4 billion loss for the second quarter on Wednesday, despite increasing revenues by 5 percent. The Fort Worth-based company said record jet fuel prices hurt the airline's earnings as it paid $779 million more for fuel in the second quarter of 2008 than the same period last year. AMR added that $1.1 billion in accounting charges related to the decreasing value of aircraft in its fleet contributed to the airline's quarterly losses. "Our company continues to be severely challenged by the fuel crisis that has afflicted our entire industry, and we expect these difficulties to continue for the foreseeable future," said AMR chairman and chief executive Gerard Arpey. "Clearly, our second quarter results were disappointing." AMR reported revenues of about $6.2 billion, up from $5.8 billion from the second quarter of 2007. The second quarter loss compares to a profit of $317 million in the same period last year. Andrea Ahles, (817) 548-5523 star-telegram.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next