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American Airlines' Parent Company Posts Its Biggest Losses Ever.
By Terry Maxon, The Dallas Morning News Knight Ridder/Tribune Business News
Jan. 17--AMR Corp., parent of American Airlines Inc., posted the biggest loss in its history Wednesday, for both a quarter and a year, as reduced traffic and lower fares ravaged its bottom line.
AMR chairman and chief executive officer Donald J. Carty, who had warned in early December that AMR would have a "very, very big loss," called the fourth quarter "incredibly difficult."
AMR reported a net loss of $798 million, or $5.17 a share, on revenue of $3.80 billion in the three months ended Dec. 31. In fourth quarter 2000, the Fort Worth-based company earned $47 million, or 29 cents a share, on revenue of $4.86 billion.
Houston-based Continental Airlines Inc. said it lost $149 million, or $2.58 a share, on revenue of $1.74 billion last quarter, compared with net income of $44 million, or 70 cents a share, on revenue of …
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Source: HighBeam Research, American Airlines' Parent Company Posts Its Biggest Losses Ever.
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