American Airlines profit falls on higher operating expenses

NEW YORK (Reuters) - American Airlines on Thursday said its quarterly profit fell by $31 million from a year ago, as operating expenses swelled on the back of higher labor and fuel costs. American, the No. 1 U.S. carrier by passenger traffic, reported fourth-quarter net profit of $258 million, or 54 cents per share, compared with $289 million, or 56 cents per share, in quarter prior.