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updated: 9/28/2012 7:58 AM

AMR cash, short-term investments fell by $805 million in August

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Bloomberg News

AMR Corp.'s unrestricted cash and short-term investments fell by $805 million in August, the parent of American Airlines Inc. said in an operating report.

The net loss for the month was $82 million, according to the report filed yesterday in U.S. Bankruptcy Court in Manhattan. Contributing to the loss were $53 million of interest expenses and $86 million in reorganization items, including $18 million in professional fees. Operating income was $55 million on operating revenue of $2.19 billion.

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Operating activities consumed $304 million in cash, according to the consolidated cash flow statement in the operating report. Cash and short-term investments of $4.84 billion at the end of July declined to $4.03 billion by Aug. 31. AMR had another $846 million in restricted cash.

AMR, based in Fort Worth, Texas, has used bankruptcy powers to shed 32 aircraft in the mainline fleet. With negotiating leverage provided by Chapter 11, the company said it "revised economic terms" for 155 planes. It agreed to retain 340 in the mainline fleet.

AMR listed assets of $24.7 billion and debt totaling $29.6 billion in the Chapter 11 reorganization begun in November.

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