American Airlines Fuel Costs Will Be Less Than Expected
Thursday December 22, 12:01 PM EST
SAN FRANCISCO (Dow Jones) -- American Airlines' parent company said Thursday its jet-fuel costs have turned out to be much lower than expected late in the year, and it plans to end the fourth quarter with more than $4 billion in cash and equivalents.
AMR Corp. (AMR), based in Fort Worth, Texas, closed out the third quarter with $3.9 billion in cash and short-term investments, the company said in a Securities and Exchange Commission filing.
AMR (AMR) said its average price for jet fuel will be $2.03 a gallon during the quarter, and $1.73 a gallon for the year.
In October the company said it expected to pay $2.34 a gallon in the fourth quarter.
Fuel consumption for the corporation should total 779.2 million gallons of fuel for the quarter.
Unit revenue at American Airlines should rise in a range of 12.5% to 13.5%, the company said in the filing.
Cost per available seat mile at American Airlines will be 11.05 cents, but excluding fuel and other items it will total 7.79 cents.
Thursday December 22, 12:01 PM EST
SAN FRANCISCO (Dow Jones) -- American Airlines' parent company said Thursday its jet-fuel costs have turned out to be much lower than expected late in the year, and it plans to end the fourth quarter with more than $4 billion in cash and equivalents.
AMR Corp. (AMR), based in Fort Worth, Texas, closed out the third quarter with $3.9 billion in cash and short-term investments, the company said in a Securities and Exchange Commission filing.
AMR (AMR) said its average price for jet fuel will be $2.03 a gallon during the quarter, and $1.73 a gallon for the year.
In October the company said it expected to pay $2.34 a gallon in the fourth quarter.
Fuel consumption for the corporation should total 779.2 million gallons of fuel for the quarter.
Unit revenue at American Airlines should rise in a range of 12.5% to 13.5%, the company said in the filing.
Cost per available seat mile at American Airlines will be 11.05 cents, but excluding fuel and other items it will total 7.79 cents.
