American Airlines’ Parent Sets Mark in Quarter
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AMR, parent of American Airlines, reported record third-quarter net income of $111.7 million, up 27.9% from a year before.
Revenue passenger miles were up by 10.3% in the third quarter, compared to the year earlier.
Operating revenue in the period decreased by 0.9% to $1.547 billion as a result of the sale of three subsidiaries--Flagship International (Sky Chefs), AMR Energy and American Airlines Training Corp.
Expenses declined by 2.7% to $1.39 billion, while cost per available seat mile for the quarter was 7.04 cents, a 7.5% drop from 7.61 cents in the 1985 third quarter.
The decline in costs was due in part to lower fuel prices, AMR said.
For detailed data and results of other companies, please see accompanying tables.
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