American Airlines parent company AMR Corp. said net income was $262 million compared with a loss of $1.1 billion in the fourth quarter of 2011. Labor was AMR's second-biggest expense behind only fuel. The company chopped spending on wages and benefits by 13 percent.
January 16, 2013 at 12:00 AM
1 minute read
American Airlines made a profit in the fourth quarter, a big turnaround from a year ago, as it slashed labor costs and reaped other benefits from its trip to bankruptcy court.
Parent company AMR Corp. said Wednesday that net income was $262 million compared with a loss of $1.1 billion in the fourth quarter of 2011.
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