American Airlines parent AMR Corp. posted net loss of $1.7 billion in the first quarter of 2012 compared with a net loss of $436 million during the same period last year.
Excluding reorganization and special items, net loss for the three months ended 31 March was $248 million compared with a net loss of $405 million in the first quarter of.
The group's revenue for the period increased 9.1% on the year to $6 billion, with consolidated passenger revenue per available seat mile (PRASM) up 10.3% and mainline PRASM up 10%.
The growth in revenue was driven by significant demand and a positive pricing environment, says AMR.
Domestic unit revenues increased across all five of the company's hubs, while international performance also improved across all regions.
Among its international units, the Atlantic entity grew 9.7% while Latin America, AMR's largest international entity, posted a unit revenue increase of 10.8% in first quarter 2012 driven by yield improvements in Mexico, Central and South America.
Consolidated operating expenses increased 6.6% to $6.1 billion, with fuel expenses increasing by $325 million during the quarter. The group's average fuel cost during the quarter was $3.24 per gallon, an increase of 17.6% from the first quarter of last year.
Reorganization items resulted in expenses of $1.4 billion, with the group's aircraft financing renegotiations and rejections alone accounting for $1 billion of the reorganization expenses.