Fueled by an increase in passenger bookings, AMR Corp., parent of American Airlines, said Wednesday that it posted its first fourth-quarter profit from operations in five years.
Ft. Worth-based AMR reported profit from operations of $51 million, or 59 cents a share, after a loss of $253 million, or $3.55 a share, a year earlier.
AMR also booked $174 million in restructuring charges during the quarter, primarily from employee severance payments. American has eliminated 5,700 full-time jobs since early 1993. Including the charges and losses from disruption of American Eagle operations resulting from fatal Oct. 31 and Dec. 13 crashes, the company lost $123 million, or $1.70 a share. Revenue rose 11.3 percent, to $4 billion from $3.59 billion a year earlier.
For all of 1994, AMR earned $228 million, or $2.26 a share, after special charges. It was the first annual profit since 1989. In 1993, AMR lost $110 million, or $2.23 a share.
