AMR reports fourth quarter 2009 net loss of $344 million

AMR Corporation, the parent company of American Airlines, reported a net loss of $344 million for the fourth quarter of 2009. The fourth quarter 2009 results include the negative impact of $177 million in non-cash special items, which consists primarily of impairment charges of approximately $96 million to write down certain route and slot authorities mainly in Latin America; $42 million to write down certain Embraer RJ-135 aircraft to their estimated fair values; and $20 million associated with the retirement of the Airbus A300 fleet. Also included is the positive impact of a non-cash tax item of approximately $248 million primarily related to hedging gains within Other Comprehensive Income during 2009. Excluding these special items and the non-cash tax item, the Company lost $415 million, in the quarter. The results for the fourth quarter of 2009 compare to a loss of $347 million for the fourth quarter of 2008.