American Airlines loses $1.9 billion in 2012 but profitable on operating basis

American Airlines incurred a net loss of $1.88 billion in 2012, a 5.2% improvement over a net deficit of $1.98 billion in 2011, but posted record annual revenue and a full-year operating profit. It earned a $262 million net profit for the fourth quarter, reversed from a $1.1 billion net loss in the 2011 December period, and touted major cost structure changes realized in Chapter 11 bankruptcy. The Dallas/Fort Worth-based company said it achieved 17% in labor cost savings in 2012, ...