AMR Corp. Reports $45 Million Third Quarter Profit

AMR Corp., parent company of American Airlines Inc., reports a net profit of $45 million for the third quarter of 2008, or 17 cents per share.
The results for the third quarter of 2008 include the impact of several special items.
The company recorded a $432 million gain from the sale of American Beacon Advisors. The company also recorded $27 million in one-time severance and aircraft charges related to its fall 2008 capacity reduction.
Going forward, the Company expects remaining special charges of about $121 million for this event, primarily representing the present value of remaining lease payments on A300 aircraft at the time these aircraft are permanently retired, as previously announced.
Excluding special items, AMR reported a third-quarter loss of $360 million, or $1.39 per share.

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