American Airlines Loses Nearly $400 Million In 2nd Quarter

By Bill Zeeble, KERA News

Dallas, TX –

AMR, the parent company of American Airlines, said the carrier lost nearly 400 million dollars in the 2nd quarter. KERA's Bill Zeeble reports that's still better than a year ago.

The world's 2nd biggest airline reported a 390 million dollar loss in this ongoing recession. . After deducting costs of selling and grounding some leased aircraft, that loss dropped to 319 million dollars, which beat analysts' estimates. In last year's 2nd quarter, the company lost more than a billion dollars.

CEO Gerard Arpey said travel remains down in this recession, and the H1N1 virus also cost the carrier business. Fuel costs are almost half what they were a year ago, but Arpey added fuel prices remain volatile. On an up note, American said it WILL take delivery of new Boeing jets over the next few years.

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