NEW YORK (Standard&Poor's) April 23, 2003—AMR Corp. (CCC/Watch Dev/--), parent of American Airlines Inc. (CCC/Watch Dev/--), reported a heavy $1.04 billion net loss, reflecting damage from the Iraq war and the continuing difficult airline industry environment. Standard&Poor's Ratings Services said that its ratings on both entities remain on CreditWatch with developing implications. The pretax loss margin of negative 25% was worse than comparable results from Continental Airlines Inc. (negative 12%), Delta Air Lines Inc. (negative 21%) and Northwest Airlines Corp. (negative 15%), continuing a pattern since 2001. American's major unions narrowly approved concessionary contracts that the company says will save $1.8 billion annually over six years, but implementation of the new contracts is in question due
