American Airlines parent AMR Corp. reported a $904 million net loss for December in the first monthly operating report during its Chapter 11 bankruptcy.
AMR said $713 million of the net loss was related to writing down the value of some of its Boeing Co. 757 airplanes. Excluding interest expense, reorganization costs and other items, the deficit was $728 million, the Fort Worth, Texas-based carrier said today in a regulatory filing.
Cash and short-term investments totaled $4 billion, little changed from the $4.1 billion the company reported as of Nov. 25, just before filing for court protection.
AMR’s total disbursements for December were $2.19 billion, and liabilities were $8.63 billion. Revenue was $2 billion. The company didn’t give comparisons for the year-earlier period.
The third-largest U.S. carrier, which traces its roots to 1920s air-mail operations in the Midwest, listed $24.7 billion in assets and $29.6 billion in debt in Chapter 11 papers filed Nov. 29 in U.S. Bankruptcy Court in Manhattan.