American Airlines' parent lost $105 million in April, but the CEO says AMR Corp. is on track for a strong profit in the April-to-June quarter, the Associated Press reported yesterday. AMR narrowed its loss for April from last year's $142 million by cutting labor costs by $106 million, or 18 percent, to $478 million. The company has eliminated several thousand jobs since filing for bankruptcy protection in November 2011. AMR also spent $26 million less on fuel, or $722 million. The labor and fuel cuts helped AMR reduce operating expenses by 4 percent, to $1.98 billion.
Revenue, however, slipped more than 2 percent, to $1.99 billion.
