American posts Q2 loss on soaring fuel costs

American Airlines on Wednesday reported a $1.4 billion net loss for the second quarter and said it may need to park all of its A300 jets by the end of next year. The carrier lost $284 million, excluding special items. American attributed its losses to the soaring price of jet fuel. "The increase in fuel prices has been nothing short of breathtaking," Chief Financial Officer Tom Horton said.

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