DALLAS (AP) — Even higher fares couldn't pull American Airlines out of its financial nosedive.
American's parent, AMR Corp., says that it lost $162 million in the third quarter, as fuel spending jumped 40 percent, wiping out higher revenue from fare increases and passenger fees.
The loss of 48 cents per share was wider than analysts' forecast for a loss of 43 cents per share.
Revenue totaled $6.38 billion. Analysts expected $6.35 billion.
It was AMR's fourth straight losing quarter and 14th in the last 16. Since 2001, the company has lost more than $12 billion, adding to speculation that it could be headed toward bankruptcy.