AMR Posts Fourth Quarter Profit, But Loss for Year

AMR Corp., the parent company of American Airlines, today reported profit in the fourth quarter of 2012 was $262 million, reversing a net loss of $1.1 billion in the fourth quarter of 2011.

Quarterly cargo revenue was $170 million, sliding 0.6 percent from 2011’s $171 million. The company reported a 1.2 percent decline in cargo ton miles in the fourth quarter, at 436 million, down from 441 million ton miles in the same quarter in 2011.

The fourth quarter was negatively impacted by Hurricane Sandy and the early November snowstorm in the Northeast, as well as residual headwind on fourth quarter bookings from operational disruptions in September and October, the company said in a written statement. The cumulative impact from these events is estimated to have reduced net profit by $142 million.

For the full year, AMR recorded a net loss of $1.9 billion. Cargo revenue was $669 million, falling 4.8 percent from $703 million. Cargo ton miles in 2012 were 1.8 billion, dropping 1.2 percent from 2011.