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The Associated Press April 20, 2011, 9:17AM ET

American Airlines posts huge 1Q loss on fuel costs

American Airlines lost $436 million in the first quarter as it battled rising jet fuel prices, and says it will eliminate some flights late this year.

The airline's results were also hurt by winter storms in the U.S. and a slump in travel to Japan after the earthquake there in March.

American's parent, AMR Corp., said Wednesday that not counting some one-time costs, its loss was smaller than analysts expected and down from a year ago.

The first quarter is usually the weakest for the airline industry. Analysts predict that United Continental, Delta and several other U.S. airlines also lost money.

Wall Street thinks most airlines will turn profitable by the end of the year, but not AMR.

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