American Airlines' Loss Shrinks
An earlier version of this American Airlines earnings story incorrectly reported that American is the only U.S. carrier expected to report a first-quarter loss. Most airlines are expected to report a first-quarter loss; American is the one airline expected to report a loss for the full year.
NEW YORK ( TheStreet) -- Battling soaring fuel costs, a nasty winter and expectations as one of many U.S. carriers to post a loss for the first quarter, American Airlines parent AMR (AMR) reported better-than-expected earnings -- a narrower loss -- Wednesday morning.
Excluding items, American reported a loss of $405 million, or $1.21 a share, compared with the $1.32 consensus loss expected by analysts. American reported a loss of $452 million, or $1.36 a share in the year-ago period.
Despite a $351 million rise in year-over-year fuel expense, American reduced its net loss by $47 million.
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