AMR Corp., the parent company of American Airlines, posted a net loss of $82 million for the month of August. The Fort Worth-based company, which filed for Chapter 11 bankruptcy last November, also saw a $535 million loss in short-term investments and unrestricted cash, according to BusinessWeek.
A majority of the commercial airline company’s losses came from reorganization fees, which totaled $86 million. An additional $53 million was spent on interest expenses. AMR saw a decline in its operating income as well, which was $240 in July and only $55 million in August.
Had AMR not had to pay reorganization costs and related fees, it would had made a profit of $4 million for the month. While under bankruptcy protection, AMR has removed 32 aircraft from its commercial fleet.
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