AMR Corporation reported a net profit of $45 million for the third quarter of 2008. The results for the third quarter of 2008 include the impact of several special items. The Company recorded a $432 million gain from the sale of American Beacon Advisors. The Company also recorded $27 million in one-time severance and aircraft charges related to its fall 2008 capacity reduction. Going forward, the Company expects remaining special charges of approximately $121 million for this event, primarily representing the present value of remaining lease payments on A300 aircraft at the time these aircraft are permanently retired, as previously announced by the Company.
Excluding the special items, the Company reported a loss of $360 million in the third quarter. The current quarter results compare to a net profit of $175 million for the third quarter of 2007 which included the impact of a $40 million charge for additional salary and benefit expense accruals as previously disclosed.
