2 Min Read
* Q3 loss excluding items 93 cents/shr
* Revenue down 20 pct
* Shares off 4.7 pct
ATLANTA, Oct 21 (Reuters) - AMR Corp AMR.N, parent of American Airlines, on Wednesday posted a quarterly loss as passenger revenue declined.
AMR said its third-quarter net loss was $359 million, or $1.26 a share, compared with a profit of $31 million, or 12 cents a share, a year earlier.
The results included $94 million in charges tied to aircraft sales and grounding. Excluding charges, the 2009 third-quarter loss was $265 million, or 93 cents a share.
Analysts expected a loss of 95 cents a share, according to Thomson Reuters I/B/E/S.
Operating revenue fell 20 percent to $5.13 billion, compared with $5.09 billion expected by analysts. Operating expenses dropped 20 percent, mainly because of lower fuel costs.
"A difficult revenue environment driven by the weakened global economy continues to overwhelm the benefit of significantly lower fuel prices," AMR Chairman Gerard Arpey said in a statement. (Reporting by Karen Jacobs, editing by Dave Zimmerman)