CHICAGO, Jan 20 (Reuters) - American Airlines parent AMR Corp posted a quarterly loss on Wednesday, capping a year of economic turmoil and weaker travel demand that battered the industry.
AMR said its fourth-quarter net loss was $344 million, or $1.03 a share, compared with a loss of $347 million, or $1.24 a share, a year earlier.
The results factor in $177 million in noncash special items, including $96 million to write down route and slot authorities, mainly in Latin America, and $42 million to write down Embraer RJ-135 aircraft to their estimated fair values.
Excluding special items and a noncash tax item, AMR lost $1.25 per share. Analysts had expected a loss of $1.22 a share, according to Thomson Reuters I/B/E/S.
Operating revenue was $5.06 billion, down 7.4 percent from a year before.
AMR ended the fourth quarter with $4.9 billion in cash and short-term investments, including a restricted balance of $460 million.
(Reporting by Kyle Peterson)
((kyle.peterson@thomsonreuters.com ; +1 312 408 8581; Reuters Messaging: kyle.peterson.reuters.com@reuters.net)) Keywords: AMR/ (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra: visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News: http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
AMR said its fourth-quarter net loss was $344 million, or $1.03 a share, compared with a loss of $347 million, or $1.24 a share, a year earlier.
The results factor in $177 million in noncash special items, including $96 million to write down route and slot authorities, mainly in Latin America, and $42 million to write down Embraer RJ-135 aircraft to their estimated fair values.
Excluding special items and a noncash tax item, AMR lost $1.25 per share. Analysts had expected a loss of $1.22 a share, according to Thomson Reuters I/B/E/S.
Operating revenue was $5.06 billion, down 7.4 percent from a year before.
AMR ended the fourth quarter with $4.9 billion in cash and short-term investments, including a restricted balance of $460 million.
(Reporting by Kyle Peterson)
((kyle.peterson@thomsonreuters.com ; +1 312 408 8581; Reuters Messaging: kyle.peterson.reuters.com@reuters.net)) Keywords: AMR/ (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra: visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News: http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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