FORT WORTH, Texas – AMR Corporation, the parent company of American Airlines, Inc., today reported a net loss of $1.4 billion for the second quarter of 2008 or $5.77 per share.
FORT WORTH, Texas – AMR Corporation, the parent company of American Airlines, Inc., today reported a net loss of $1.4 billion for the second quarter of 2008 or $5.77 per share.
The second quarter results include special charges as previously disclosed in AMR’s Form 8-K filing with the Securities and Exchange Commission on July 2. These include a $1.1 billion non-cash accounting charge to write down the value of certain aircraft and related long-lived assets to their estimated fair value and a charge of approximately $55 million of a total $70 million expected for severance-related costs resulting from the Company’s system-wide capacity reductions in the fourth quarter of this year. The remainder of the severance-related charge is expected to be taken in the third quarter. Excluding these special charges, AMR reported a second quarter net loss of $284 million, or $1.13 per share.