American turns to loss in August

Washington DC
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AMR subsidiary American Airlines reported an $82 million net operating loss on reorganisation costs in August, after profits during the previous two months.

The Fort Worth-based Oneworld carrier posted $55 million in operating income but paid $86 million in reorganisation and $51 million in miscellaneous expenses during the month, according to a stock exchange filing today.

American reported net profit of $135 million in July and $33 million in June.

Revenue was $2.2 billion and expenses were $2.1 billion in August.

Cash and short-term investments were $4.3 billion at the end of the month, which was down from $4.8 billion at the end of July. Long-term debt and capital lease obligations were $6.6 billion, which was flat with the month before.