American widens loss in November

Washington DC
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American Airlines parent AMR reports a $347 million net loss during November, largely due to reorganisation expenses.

Operating revenue and operating expenses were both $1.9 billion but the Fort Worth-based carrier paid $301 million in reorganisation expenses during the month, according to a stock exchange filing on 21 December.

AMR previously reported an about $25 million reduction in revenue during the month due to the impact of superstorm Sandy on operations in the northeast. The storm hit New Jersey on 29 October.

The airline lost $164 million in October and has reported losses since August.

Cash and short-term investments declined by 4.8% to $4.01 billion while long-term debt and capital leases less current obligations increased by 8.1% to $7.2 billion on 30 November compared to a month earlier.