Dallas – The parent of American Airlines, the nation’s biggest carrier, on Wednesday reported a slim profit for the third quarter as rising revenue offset higher fuel costs.
It was the company’s first back-to-back quarterly profit in six years, and shares of AMR Corp. jumped 7.5 percent.
Analysts expect several other leading U.S. carriers to report their second straight profitable quarter, and they say the recent dip in fuel prices could lift airline profits for the rest of the year.
But airline executives, including the leader of American, said it was far too early for the carriers to declare victory after a long slump that has seen them lose more than $50 billion.
AMR said it earned $15 million, or 6 cents per share, in the quarter ended Sept. 30, compared with a loss of $153 million, or 93 cents per share, a year earlier.
Revenue rose 6.6 percent to $5.85 billion from $5.5 billion a year ago. The results included a $99 million charge to reduce the value of fuel-hedging contracts. Without that write-down, AMR said it would have earned $114 million, or 45 cents per share.
Analysts expected the company to earn 42 cents per share before one-time items on sales of $5.9 billion, according to a survey by Thomson Financial.
AMR shares rose $1.80 to close at $25.90 on the New York Stock Exchange.
