NEW YORK (Standard&Poor's CreditWire) July 18, 2001-- AMR Corp., parent of American Airlines Inc., reported a $105 million net loss, not including $401 million of special charges (almost all disclosed earlier), for the second quarter of 2001. Standard&Poor's ratings for the entities remain on CreditWatch with negative implications, pending regulatory review of UAL's proposed acquisition of US Airways Group Inc., in which AMR would participate by buying certain US Airways assets. The second-quarter loss is in line with expectations and with the poor results being reported by most U.S. airlines, due to weak business travel, high fuel prices, and rising labor costs. AMR fared somewhat better than its principal competitor, UAL Corp., with a decline in
