AMR Corporation Reports Q1 Earnings Just About In-Line
Apr 20, 2011
AMR Corporation, (NYSE:AMR) the parent company of American Airlines, reported a Q1 EPS loss of $1.31, slightly narrow than the $1.32 loss analysts had expected. Revenues for the quarter were up 9.2% year-over-year to $5.5 billion, in-line with the consensus estimate.
"High fuel prices remain one of the biggest challenges to our industry and our company. We believe our steps to aggressively increase revenues, reduce capacity, control non-fuel operating costs, and bolster liquidity will help us to better manage the challenges we currently face," said AMR Chairman and CEO Gerard Arpey. "While we clearly must achieve better results as we continue to strengthen our business, we have made some meaningful progress. I want to thank our people for their commitment to serving our customers, and I am confident that our overall strategy positions American well to address our current challenges and sets the stage for long-term success."
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