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Friday January 18, 2013

Cost cuts pay off for AMR

new york: AMR Corp, the parent company of American Airlines, reported a fourth-quarter profit on Wednesday following a year-earlier loss and said cost-cutting measures undertaken during restructuring would buoy earnings in future.

The carrier said 2012 revenue grew 3.7% to US$24.9bil, its highest annual revenue ever. Net income was US$262mil, or 69 cents a share, compared with a loss of US$1.1bil, or US$3.27 a share, a year earlier. Reuters

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