Breaking Finance News

American Airlines up 6 Percent on Positive Second Quarter Profit

Shares of AMR Corporation (OTC: AAMRQ) are up 6 percent after the parent company of American Airlines posted a $220 million second-quarter profit on the back of cost-cutting from it’s bankruptcy reorganization.

This marks the first time in six years that the company has reported a profit during the April to June Quarter. In 2012, the airline lost $241 million in the same quarter.

Revenue was inline at$6.45 billion.

The airline is currently seeking approval to merge with US Airways (NYSE: LCC).

[stock-tools exchange="OTC" symbol="AAMRQ" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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