Posted: Aug 26, 2013 8:38 PM
Updated: Aug 26, 2013 8:38 PM
FORT WORTH, Texas (AP) American Airlines posted a record one-month profit in July as it benefited from lower labor costs and higher revenue during the peak of the summer vacation season.
Fort Worth-based parent AMR Corp. said net income more than doubled to $292 million, continuing the company's rebound since it filed for bankruptcy protection in November 2011.
CEO Tom Horton said that excluding one-time restructuring costs, AMR would have earned $352 million last month a company record. The CEO noted that the airline is adding new routes and getting the first of hundreds of new planes that it ordered.
American's momentum is convincing some in the travel industry that AMR doesn't need to merge with US Airways after all.