American Airlines parent AMR rebounded financially amidst a bankruptcy restructuring process in the second quarter, posting its second-best operating income for the same period over the past five years.
Operating income finished the 30 June quarter at $142 million, which improved on a $78 million operating loss in the second quarter last year. Net income, including restructuring charges, finished at $241 million, a 15.7% improvement from a $286 million loss during the same period a year ago.
Restructuring costs during the second quarter amounted to $336 million.
Despite the overall loss, AMR executives were pleased by the end-result.
"This was a time of exceptional improvement," says AMR chief executive Tom Horton in a statement.
Leading AMR's positive financial indicators in the second quarter was passenger revenue per available seat mile, which rose 9.1% across mainline and regional operations. That drove a 5.5% increase in total operating revenues at $6.45 billion for the quarter, a historic high mark for AMR.
At the same time, AMR kept its expenses in check, with total operating costs rising only 1.9% to $6.31 billion. The airline's two largest cost categories - aircraft fuel and wages - increased less than 1% during the quarter. The third-largest expense, meanwhile, for maintenance and repairs increased 6.8% to $357 million.
AMR finished the second quarter with $5.8 billion in cash and short-term investments, a roughly $200 improvement compared to the same period a year ago.