Business News
American Airlines flying in the red
Apr 15, 2009, 19:25 GMT
New York - American Airlines parent AMR flew back into losses in the first quarter as the recession put a damper on the flying public even as jet fuel costs fell.
First quarter losses were 375 million dollars, 10 per cent more than losses a year ago, AMR said Wednesday from its Fort Worth, Texas headquarters.
Revenue fell 15 per cent to 4.8 billion dollars on sinking passenger numbers.
Analysts expect declines at all major airlines as the recession cut into airline traffic and carriers were forced to cut jobs and planes.
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