Originally Posted by
Wingtips
AMR loses $619 million in February - MarketWatch
AMR loses $619 million in February - MarketWatch
NEW YORK (MarketWatch) -- AMR Corp. AAMRQ +2.01% reported a loss of $619 million, or $1.85 a share, for the month of February on operating revenue of $1.81 billion, according to a filing with regulators on Friday. The airline, wihch filed for bankruptcy on Nov. 29, disclosed $24.4 billion in total assets including $40 million in cash, $4.2 billion in restricted cash and short-term investments, and $10.9 billion in flight equipment. The company's accumulated deficit totaled $8.44 billion as of Feb. 29.
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That 4.2 billion is about to be under 3 billion, this is the 3rd month they have posted a huge loss.
So let me get this straight, we need 1.2 billion dollars worth of concessions from labor, will make the other 3/4 billion dollars from other cuts, will increase revenue by 1 billion to a total of 3 billion dollars in reorganization. But we are losing 1/2 billion a month. My math doesn't add up, we still have a deficit of 3 billion. AMR is being very cocky in this BK, this is going to get interesting in the courts. Between CEO saying it doesn't listen to employee protest, to saying the pre-bk proposals were to generous and came to the conclusion we needed to cut 4 times that much, to pre-bk loosing 1 billion per year and during b/k doing that in 2 months, while cleaning the books from bad contracts, parked airplanes and others. This will get very bad and the judge might be put in a bad situation. I am glass we have a democrat in office and it's election year.... ha ha, j/k