AMR Corporation reports a wider 1Q 2010 Net Loss of $505 Million
AMR Corporation (Dallas/Fort Worth), the parent company of American Airlines and American Eagle Airlines, reported a net loss of $505 million for the first quarter of 2010, or $1.52 per share. The results include the impact of a $53 million, or $.16 per share, special item related to the devaluation of the Venezuelan currency in January. Excluding that special item, AMR lost $452 million, or $1.36 per share, in the first quarter.
This compares to a net loss of $375 million, or $1.35 per share, in the first quarter of 2009. The first quarter 2009 results included a $13 million charge, or $0.05 per share, related to A300 aircraft retirements during that quarter. Excluding that special item, AMR lost $362 million, or $1.30 per share, in the first quarter of 2009.
Copyright Photo: Brian McDonough. American’s Boeing 757-223 N690AA (msn 25696) is pictured on final approach at Washington (Dulles). It displays the special “Flagship Freedom” scheme.