Flying High: American's Parent Company Sees Profit Boost

By: Associated Press
By: Associated Press

FORT WORTH, Texas -- American Airlines parent AMR Corporation reports its third-quarter profit surged from the year-ago period after the carrier took a $99 million charge on fuel-hedging contracts.

Fort Worth-based AMR reports net quarterly income of $175 million, or 61 cents per share. That's almost 12 times the profit reported for the same period last year.

That's even accounting for a charge of $40 million, or 13 cents per share, related to salary and benefit expenses.

The profit still fell short of the 73 cents per share expected by analysts surveyed by Thomson Financial. Such forecasts typically exclude 1-time costs.

Revenue for the quarter increased almost 2% to $5.95 billion. That was just short of analysts' forecast of $5.96 billion.

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