AMR BATTERED BY STRIKE
AMR Corp., the parent company of American Airlines, reported an
81-percent drop in first-quarter earnings to $56 million, before one-time
gains, including the sale of three non-airline subsidiaries.
A pilot job action in February led to the poor results. Total revenue at
AMR fell 3.3 percent to $4.5 billion. Cargo revenue dropped 11 percent to
$145 million.
AMR announced it will retire early nine DC-10s and 16 B727s to prepare
for slower international passenger growth expected in coming years.
American plans to take delivery of more than 115 new aircraft between 1999
and 2001.