American Airlines parent AMR posted a $1.7 billion first-quarter net loss, compared with a $436 million net loss for the same period last year.
Bankrupt AMR attributed the loss to $1.4 billion in reorganization items "and an increase in fuel costs, partially offset by higher operating revenues," according to its quarterly report.
Consolidated passenger yield, a representation of average fare, increased 7.4%.
"I am particularly encouraged by our revenue improvement, which outpaced the industry average," according to an employee memo from CEO Tom Horton. "Our consolidated unit revenue increased by 10.3 percent, with increases across all five of our hubs and across all international regions as we continue to capitalize on our network and partnerships." Source: Business Travel News