AAMR News MR Corporation Announces First Quarter 2012 Results; Files Form 10-Q Quarterly Report

2012-04-19 09:20 ET - News Release

Reports 1Q 2012 Net Loss of $1.7 Billion

Excluding Special Items, 1Q Net Loss Was $248 Million Compared to a Net Loss of $405 Million in 1Q 2011

Reports 10.3 Percent Consolidated Unit Revenue (PRASM) Growth

FORT WORTH, Texas, April 19, 2012 /PRNewswire/ -- AMR Corporation, the parent company of American Airlines, Inc., today filed its quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission. The report summarizes AMR's business and financial results for the first quarter ended March 31, 2012, on a consolidated basis, and is available in the Investor Relations section of AA.com.

First Quarter 2012 Results

In first quarter 2012, AMR incurred a net loss of $1.7 billion compared to a net loss of $436 million in the same period of 2011. Excluding reorganization and special items, the net loss was $248 million compared to the net loss of $405 million for first quarter 2011.

AMR recorded first quarter 2012 consolidated revenues of approximately $6.0 billion, an increase of 9.1 percent year-over-year. Consolidated passenger revenue per available seat mile (unit revenue) grew 10.3 percent compared to the first quarter 2011, and mainline passenger unit revenue increased 10.0 percent.

Consolidated passenger yield, which represents the average fares paid, increased 7.4 percent year-over-year in first quarter 2012, and mainline passenger yield increased 7.3 percent.

Mainline capacity, or total available seat miles, in first quarter 2012 increased 0.2 percent compared to the same period in 2011.

American's mainline load factor, or the percentage of total seats filled, was 79.0 percent during first quarter 2012, compared to 77.1 percent in first quarter 2011.