AMR Corp. (BB/Watch Neg/--), parent of American Airlines Inc. (BB/Watch Neg/B), reported a $414 million net loss, $922 million before its share of grants under the federal airline aid program. Standard&Poor's ratings for both entities remain on CreditWatch with negative implications. The huge loss was expected, given the severe effect of much lower revenue (22% lower at American Airlines) due to the weak economy and effects of the Sept. 11 terrorist attacks. The approximate allocation of the net loss before government grants was $17 million estimated net operating loss excluding the effects of Sept. 11, $508 million added net operating losses since then, and $397 million of special charges (few of which consume cash). AMR ended the quarter
