RECORD QUARTER: American Airlines parent AMR Corp. earned $289 million in the third quarter. Excluding items such as bankruptcy-reorganization costs, the gain would have been $530 million, a company record.
HERE'S HOW: Revenue rose 6 percent and operating costs fell 4 percent — mostly from cutting labor expenses such as wages and benefits by 13 percent.
STOCK UPGRADED: Before the report, J.P. Morgan upgraded AMR shares to "Outperform" and said it was slightly more likely that a planned merger with US Airways will happen. The federal government and several states are suing to block the merger as anticompetitive. A trial is set to begin Nov. 25. AMR shares rose 9 percent.