Business Services Industry
AMR's Financial Position Less Precarious.
Knight Ridder/Tribune Business News, July, 2003
By Eric Torbenson, The Dallas Morning News Knight Ridder/Tribune Business News
Jul. 17--AMR Corp. has something it has sorely lacked since Sept. 11, 2001 -- breathing room.
The Fort Worth-based company said Wednesday it lost $75 million from April through June, although the red ink would have topped $350 million for the second ...uarter if the federal government hadn't stepped in to help.
But both figures are less than the Wall Street estimate of $419 million in losses for American Airlines' parent company.
More importantly, Fort Worth-based AMR used the ...uarter to beef up its cash balance, which was so low in the spring that the company was almost forced into bankruptcy.
By mortgaging planes, getting some...
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