Reuters: Bankruptcy News: American parent AMR posts $1.7 bln 1st-qtr loss

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American parent AMR posts $1.7 bln 1st-qtr loss Apr 19th 2012, 13:42 April 19 | Thu Apr 19, 2012 9:42am EDT April 19 (Reuters) - American Airlines parent AMR Corp , which is operating under Chapter 11 protection, posted a first quarter loss on Thursday as fuel costs rose and it had expenses tied to its reorganization. The company, which sought bankruptcy protection last November, had a net loss of $1.7 billion in the first quarter, compared with a loss of $436 million a year earlier. Excluding reorganization and special items, AMR said its loss was $248 million in the latest period. Quarterly revenue rose 9.1 percent to $6 billion, aided by higher airfares. Passenger revenue per available seat mile, an important measure called unit revenue, gained 10.3 percent on a consolidated basis. AMR said international results improved, with unit revenue in the Atlantic region up 9.7 percent in the quarter. Latin America had a unit revenue increase of 10.8 percent. AMR has said since its bankruptcy filing that it needs to trim at least 14,000 jobs, including 1,200 nonunion positions, as part of its plan to cut costs.

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