AMR Expects Losses for First Quarter, Year
Bloomberg News
American Airlines parent AMR Corp., the largest airline company, forecast losses for this quarter and the full year because of the drop in travel demand after Sept. 11.
“Because of the high degree of uncertainty, the company is not currently able to provide an estimate for the full year 2002. However, the company does expect to incur a sizable loss in the first quarter, and will likely incur a loss for 2002,” AMR said in a Securities and Exchange Commission filing.
Analysts had estimated AMR to have losses of $3.03 a share this quarter and $4 for the year, according to Thomson Financial/First Call.
Fort Worth-based AMR’s shares fell 96 cents to $26.10 on the NYSE.
