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American Airlines parent lost money in January

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February 29, 2012 06:16 PM EST | AP

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FORT WORTH, Texas — American Airlines' parent company, which is trying to turn around while in bankruptcy protection, says it lost $234 million in January.

That includes restructuring expenses of $155 million related to renegotiating aircraft financing and $15 million in fees paid to advisers such as lawyers. Without those items, the company would have lost $64 million.

AMR Corp. disclosed the results Wednesday in a filing with a federal bankruptcy court in New York.

Revenue was $2.03 billion. The top expenses were $704 million for fuel and $601 million for wages, salaries and benefits.

AMR Corp. disclosed the results Wednesday in a filing with a federal bankruptcy court in New York.

The company didn't give year-ago financial figures for comparison.

AMR and American filed for bankruptcy protection on Nov. 29. The company wants to cut 13,000 jobs, turn its pension obligations over to the federal government and reduce pay, benefits and working terms for remaining workers.

AMR ended January with $4.9 billion in cash and short-term investments, including restricted cash that is mostly collateral held for estimated worker-compensation and tax obligations.

Its stockpile of unrestricted cash has remained around $4 billion since it filed for bankruptcy protection.

In January AMR reported a $1.1 billion loss for the fourth quarter of 2011, mostly on falling value of planes and other assets. Without write-downs, the loss would have been $209 million, compared with a loss of $69 million in the last quarter of 2010. Revenue rose 7.4 percent on higher fares.