Originally published at www.seclive.com
Filing in Focus: AMR 8-K, August 26, 2013
AMR Corporation (AAMRQ), the parent company of American Airlines, announced its financial results for the quarter as it continues to exit bankruptcy in the coming months. AMR recorded $352M in profits for the month of July when excluding a $60M charge related to its bankruptcy restructuring. This is a large step forward when you compare its monthly profit of $352M to its second quarter profit of $357M. This strong profit will likely not help AMR as it deals with a U.S. Justice Department lawsuit filed this month regarding the American and U.S. Airways merger, which the department believes would lead to higher fares and reduced competition. CEO Tom Horton remarked that AMR is in the middle of one of the most successful turnarounds in aviation history and believes the company will lead the industry.