The parent of American Airlines is reporting a $220 million profit for the second quarter as its cost-cutting from its bankruptcy reorganization kicked in.
It's the first time in six years that the airline has had a profit during the April-June quarter. During the same period last year, it lost $241 million, mostly because of bankruptcy-related expenses.
Revenue was steady at about $6.45 billion.
AMR Corp. has been operating under bankruptcy protection since late 2011. It has cut worker pay and other expenses, and reduced overall flying. Spending for wages was 18% lower than a year ago. Fuel expenses fell 3% as the price of fuel dropped.
American is seeking approval for a merger with US Airways Group Inc. The airlines have said they hope to close the deal by the end of September.
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