January 16, 2013
AMR Corporation reports fourth quarter 2012 net profit of $262m
In the fourth quarter, AMR reported a net profit of $262m compared to a net loss of $1.1bn in the fourth quarter of 2011. AMR’s fourth quarter results include $350m of net positive reorganization and special items. Excluding reorganization and special items, the net loss in the fourth quarter of 2012 was $88m, a $121m improvement from the prior year. The fourth quarter of 2012 was negatively impacted by Hurricane Sandy and the early November snow storm in the Northeast and, separately, by the residual headwind on fourth quarter bookings from the operational disruptions experienced in late September and early October. The cumulative impact from these events is estimated to have reduced net profits by $142m. For full-year 2012, American recorded a net loss of $1.9bn, compared to 2011’s full-year net loss of $2.0bn. AMR’s full year 2012 results include $1.7bn of net negative reorganization and special items. Excluding reorganization and special items, the net loss for 2012 was $130m, a $932m improvement over 2011. The company’s operating profit, excluding special items, of $494m for 2012 was a $749m improvement over last year.