Wednesday, January 19, 2011

AMR 4Q Loss Narrows Amid Improved Business Travel, Fare Trends

The parent of American Airlines on Wednesday reported a narrower fourth-quarter loss and pledged to keep costs flat current year in an effort to narrow the gap with rival U.S. carriers.

American also plans to expand capacity more than its network rivals in what is a crucial year for the country's third-largest airline as it tries to leverage expanded alliances with overseas partners, rejig its domestic network and secure fresh deals with labor and third-party ticket sellers.

"As we focus on the year ahead, we are cautiously optimistic that we will be able to build on our present momentum," told Chairman and Chief Executive Gerard Arpey in a letter to staff. "The economic recovery is real, albeit fragile, and our network is much stronger than it was a year ago."

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