Heavy noncash impairment charges and record fuel prices sent American Airlines parent AMR Corp. plunging to a $1.45 billion second-quarter net loss, reversed from a $317 million profit in the year-ago quarter. The noncash charges, announced this month (ATWOnline, July 3), comprise a $1.1 billion writedown of the value of certain aircraft and related assets and approximately $55 million in employee severance-related costs. Excluding the charges, AMR's second-quarter loss was $284 ...

Subscribe to Access this Entire Article

"Writedown drags American to $1.45 billion second-quarter loss" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.