American Airlines parent AMR Corp. narrowed its first-quarter net loss to $341 million from $1.66 billion for the same period last year.

Net income was "negatively impacted by $349 million of reorganization and special items," according to the company. AMR reported quarterly revenue grew 1 percent to $6.1 billion. Passenger unit revenue increased nearly 3 percent, with yield—a representation of average fare paid per mile—up nearly 1 percent. "We achieved a quarterly yield that was the highest in company history for any quarter, and an all-time first-quarter record in revenue," according to AA chief commercial officer Virasb Vahidi.