AMR Expects Loss to Exceed $100 Million
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AMR Corp., the parent of American Airlines and TWA, expects a second-quarter loss of more than $100 million instead of the profit analysts forecast and might lose money for the year if high fuel prices and a slump in business traffic persist.
The largest airline’s second-quarter loss could reach 65 cents a share, compared with the average analysts’ forecast of a profit of 41 cents. AMR also will retire 22 aircraft early and take a charge of $425 million, or $2.76 a share, to write down the value of some planes at American and commuter carrier American Eagle.
The warning was issued after U.S. markets closed. AMR shares rose 64 cents to close at $35.92 on the New York Stock Exchange.
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