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AMR generates a small profit

Wednesday, Oct. 22, 2003 | 11:13 a.m.

FORT WORTH, Texas -- The parent of American Airlines today reported a tiny profit in the third quarter, breaking a string of losses at the world's largest carrier that began more than two years ago and worsened after the terror attacks of September 2001.

AMR Corp. said it earned about $1 million in the July-September period -- break-even on a per-share basis -- on revenue of $4.60 billion. AMR lost $924 million in last year's third quarter.

Excluding one-time gains and losses from downsizing, AMR said it would have lost $23 million or 15 cents per share in the most recent quarter. Analysts surveyed by Thomson First Call had expected a loss of 41 cents per share.

Despite the surprising results, AMR shares lost 88 cents, or 5.9 percent, and were trading at $14.02 Wednesday afternoon on the New York Stock Exchange.

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