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American Air CEO Expects Q2 Profit

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American Airlines parent AMR, which plans to merge with US Airways, said it expected to report a second-quarter profit for the first time since 2007.

American Airlines, the third-largest US carrier by traffic, has renegotiated aircraft leases, cut management and support staff and frozen pension plans to lower costs since filing for Chapter 11 protection in November 2011.

"We expect to report a strong, profitable second quarter - our first since 2007", chief executive Tom Horton said on Thursday in a letter addressed to employees and filed with the US Securities and Exchange Commission.

(Reuters)