American Airlines’ parent, AMR Corp., posted losses...
American Airlines’ parent, AMR Corp., posted losses of $124.9 million for the last quarter of 1991 and $239.9 million for the year.
The company blamed the performance on the recession, which has weakened demand for air travel, higher costs and fare discounting. AMR took a $59.6-million charge in the quarter to cover the retiring of aircraft.
The company’s fourth-quarter loss was $1.83 a share. During the same period in 1990, AMR lost $215.1 million, or $3.45 a share.
Revenue during the quarter was $3.4 billion, up 13% from a year earlier. For the year, AMR lost $3.54 a share. In 1990, the firm lost $39.6 million, or 64 cents a share.
Earnings, D12
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