AMR Corporation, which owns American Airlines, has revealed a year-on-year second quarter net loss of US$390 million, considerably less than the $1.5 billion lost (including a $1.1 billion loss in aircraft value) suffered in last year's second quarter.

American Airlines cargo revenue fell 42.6 per cent to $99 million in the second quarter year on year. Cargo ton miles declined 25 per cent from 533 million to 399 million.

AMR also reported second quarter consolidated revenues of $4.9 billion, a 20 per cent year-year-on decrease, largely blamed on the industry-wide downturn in cargo and travel demand.