American Airlines parent AMR narrows 1Q loss on higher revenue, lower labour costs

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FILE - In this Tuesday, April 16, 2013, file photo, an American Airlines ticket agent talks assists passengers checking in at Hartsfield-Jackson airport, in Atlanta. AMR Corp. reports quarterly financial results before the market opens on Wednesday, April 17, 2013. (AP Photo/David Goldman)

DALLAS – The parent of American Airlines is reporting a smaller loss for the first quarter than a year ago on slightly higher revenue and much lower labour costs.

AMR Corp. said Thursday that it lost $341 million, compared with a loss of $1.66 billion a year earlier.

The nation’s third-largest airline said that it would’ve earned $8 million excluding costs of its bankruptcy restructuring.

Revenue rose 1 per cent to $6.1 billion. Labor costs declined 17 per cent.

AMR is in the process of merging with US Airways and emerging from bankruptcy protection. If antitrust regulators approve the merger, the combined airline will be the biggest in the world.

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