AMR Corp., the parent company of American Airlines, reported a 44% jump in its first-quarter earnings over the like period a year ago on a 4% revenue gain.
“We are quite pleased with the level of earnings that we achieved during the first quarter,” Robert L. Crandall, AMR chairman and president, said in a statement. “Our successful revenue management and cost-control programs both contributed to the favorable performance.”
The Fort Worth-based firm said net income climbed to $19.9 million, from $13.8 million a year earlier. Revenue rose to $1.51 billion from $1.46 billion.
AMR said its yield, which represents the average revenue it received for flying one passenger one mile, rose 2.6% in the latest quarter while at the same time its costs per available seat mile fell 5.7%.