American Airlines Group, Inc.

AMR Corporation Reports Fourth Quarter 2008 Loss of $340 Million, as Unit Revenue Improved on Capacity Cuts but Higher Year-Over-Year Fuel Prices Drove $133 Million of Additional Fuel Expense

January 21, 2009

EXCLUDING SPECIAL CHARGES, FOURTH QUARTER LOSS WAS $214 MILLION

COMPANY REPORTS $2.1 BILLION LOSS FOR 2008; LOSS WAS $1.2 BILLION EXCLUDING SPECIAL ITEMS, WITH HIGHER FUEL PRICES DRIVING $2.7 BILLION OF ADDITIONAL FUEL EXPENSE COMPARED TO 2007

Facing Economic Uncertainty and Fuel Price Volatility in 2009, Company Plans to Further Trim Capacity, Enhance Global Network, Execute on Fleet Replacement, and Focus on Balance Sheet and Dependability

FORT WORTH, Texas, Jan. 21 /PRNewswire-FirstCall/ -- AMR Corporation (NYSE: AMR), the parent company of American Airlines, Inc., today reported a net loss of $340 million for the fourth quarter of 2008, or $1.22 per share.

    The results for the fourth quarter of 2008 include the impact of two
special charges: a $23 million charge for aircraft groundings, facility
write-offs and severance related to the Company's previously announced
capacity reductions during the last four months of 2008, and a non-cash
pension settlement charge of $103 million driven by a large number of early
pilot retirements during 2008, which required any unrecognized gains or losses
of the related defined benefit pension plan to be recognized on a proportional
basis.

Excluding those special charges, the Company lost $214 million, or $0.77 per share, in the fourth quarter of 2008.

    The current quarter results compare to a net loss of $69 million for the
fourth quarter of 2007, or $0.28 per share, which included: a $138 million
gain on the sale of AMR's stake in ARINC; a $39 million gain from the change
to the expiration period for AAdvantage(R) miles; and a $63 million charge
from the retirement of 24 MD-80 aircraft. Excluding those special items, AMR
lost $184 million, or $0.74 per share, in the fourth quarter of 2007.

    For all of 2008, AMR recorded a net loss of $2.1 billion, or $7.98 per
share. In addition to the special charges from the fourth quarter of 2008
totaling approximately $126 million, the full-year results include: a $432
million gain from the sale of American Beacon Advisors; facility, severance
and aircraft grounding charges of approximately $91 million, and non-cash
aircraft and route impairment charges of approximately $1.1 billion related to
the Company's capacity reductions in late 2008. Excluding those special items,
AMR lost $1.2 billion, or $4.57 per share, for all of 2008.

    In 2007, AMR reported a net profit of $504 million, or $1.78 per diluted
share. In addition to the special items in the fourth quarter of 2007 totaling
a net positive impact of $115 million, the 2007 results included a $30 million
charge related to prior-period salary and benefit expense accruals. Excluding
those special items, AMR earned a profit of $420 million, or $1.50 per diluted
share, in 2007.

    Historically high and volatile jet fuel prices continued to challenge the
Company in the fourth quarter of 2008. AMR paid $2.60 per gallon for jet fuel
in the fourth quarter versus $2.41 a gallon in the fourth quarter of 2007, an
8 percent increase. The Company paid a record $3.03 per gallon for jet fuel
for all of 2008, compared to $2.13 for all of 2007, an increase of 42 percent.
As a result, the Company paid $133 million and $2.7 billion more for fuel in
the fourth quarter and for all of 2008, respectively, than it would have paid
at prevailing prices from the corresponding prior-year periods.

    "Our fourth quarter and full-year 2008 results reflect the difficulties
all airlines faced last year, but we believe our steps to reduce capacity,
bolster liquidity, and improve revenue helped us better manage the challenges
of record fuel prices and a weak economy," said AMR Chairman and CEO Gerard
Arpey. "We believe these actions and our fleet renewal efforts have put us on
sounder footing as we face continued economic uncertainty, slower travel
demand, and fuel price volatility in 2009. We intend to continue managing our
business - from capacity and fleet planning to balance sheet repair, fuel
hedging and revenue initiatives - conservatively and with discipline. I want
to thank employees for their commitment during a difficult 2008. While
significant hurdles remain, I am guardedly optimistic we can regain momentum
in 2009."

    Arpey added that American expects to enhance its global network in 2009 by
achieving regulatory approval of its antitrust immunity application with
fellow oneworld members, which will pave the way for American's planned joint
business agreement with British Airways and Iberia and help oneworld compete
more effectively with other global alliances. The Company also hopes to build
on the beginning strides it made last year to improve dependability and the
customer experience, Arpey said.

    AMR today provided an update to the delivery schedule for the incoming 76
Boeing 737-800 aircraft that will replace MD-80 aircraft in American's fleet.
As a result of Boeing delivery delays, the Company now expects to receive 29
737s in 2009 (compared to 36 expected previously), 39 in 2010 (compared to 40
expected previously) and eight in the first quarter of 2011. The first
deliveries are expected near the end of the first quarter of 2009.

    As a result of the uncertainty surrounding the economic climate, the
Company has decided not to use MD-80s to backfill flying associated with the
seven 737s that no longer will be delivered in 2009. Largely as a result of
this decision, the Company's 2009 mainline capacity will decline by more than
one percentage point compared to previous guidance provided in October.
(Capacity expectations for 2009 are outlined in the Guidance section below.)

Financial and Operational Performance

American's mainline passenger revenue per available seat mile (unit revenue), excluding special items, increased by 5.5 percent in the fourth quarter of 2008 compared to the year-ago quarter.


    Mainline capacity, or total available seat miles, in the fourth quarter
decreased by 8.3 percent compared to the same period in 2007, as the Company
continued to reduce capacity given economic conditions and still-challenging
fuel prices.

    American's mainline load factor - or the percentage of total seats filled
- was 78.3 percent during the fourth quarter, its third-highest fourth quarter
load factor ever, compared to a record 80.2 percent in the fourth quarter of
2007. American's fourth-quarter yield, which represents average fares paid,
excluding special items, increased 8.1 percent compared to the fourth quarter
of 2007, its 15th consecutive quarter of year-over-year yield increases.

AMR reported fourth quarter consolidated revenues of approximately $5.5 billion, a decrease of 3.1 percent from the same period in 2007 (which excludes special items from 2007), as consolidated passenger revenue declined 3.9 percent year over year on less capacity and traffic, and cargo revenue declined 13.9 percent largely due to the economy.

Other revenues, including sales from such sources as confirmed flight changes, purchased upgrades, Buy-on-Board food services, and bag fees, increased 9.7 percent year over year to $545 million in the fourth quarter, compared to the fourth quarter of 2007.

AMR reported full-year 2008 revenues of approximately $23.8 billion, an increase of 3.8 percent compared to 2007 (which excludes special items from 2007).

American's mainline cost per available seat mile (unit cost) in the fourth quarter, excluding special items, increased 6.8 percent year over year. Excluding fuel and special items, mainline unit costs in the fourth quarter increased by 6.8 percent year over year. The fourth quarter increase in mainline unit costs was driven by costs related to the Company's capacity reductions in late 2008, as well as higher material and repair costs, and foreign exchange expense.

Balance Sheet Update

AMR continued to focus on strengthening its balance sheet in the fourth quarter.


    AMR ended the fourth quarter with $3.6 billion in cash and short-term
investments, including a restricted balance of $459 million, compared to a
balance of $5.0 billion in cash and short-term investments, including a
restricted balance of $428 million, at the end of the fourth quarter of 2007.
In line with previously disclosed expectations, AMR had posted approximately
$575 million in cash collateral with fuel hedge counterparties at the end of
the fourth quarter of 2008. Also affecting the 2008 year-end cash balance were
more than $1 billion in scheduled principal payments on long-term debt and
capital leases and approximately $880 million in capital expenditures that the
Company made during the year, and the $2.7 billion increase in its 2008 fuel
costs compared to 2007 fuel prices.

In spite of increasingly challenging capital and credit markets, during 2008 AMR raised nearly $2 billion from a variety of sources, including: the sale of American Beacon Advisors, an equity sale of common stock; a draw on its revolving line of credit; and aircraft-related financings, including approximately $200 million from an aircraft sale-leaseback transaction that closed in the fourth quarter of 2008. The Company also arranged financing, subject to certain conditions, for the majority of the 76 Boeing 737-800s it has scheduled for delivery.

    AMR's Total Debt, which it defines as the aggregate of its long-term debt,
capital lease obligations, the principal amount of airport facility tax-exempt
bonds, and the present value of aircraft operating lease obligations, was
$15.1 billion at the end of the fourth quarter of 2008, compared to $15.6
billion a year earlier. AMR's Net Debt, which it defines as Total Debt less
unrestricted cash and short-term investments, was $12.0 billion at the end of
the fourth quarter, compared to $11.0 billion in the fourth quarter of 2007.

    AMR made the full amount of its required $78 million of contributions to
its defined benefit pension plans for employees during 2008. The Company has
contributed more than $2 billion to these plans since 2002, as the Company
continues to meet this important commitment to employees.

    Highlights

    Fourth Quarter 2008 and Recent
    --  American entered into a purchase agreement with Boeing to acquire an
        initial 42 Boeing 787-9 Dreamliners, with the right to purchase up to
        58 additional 787s. The purchase of the initial 42 787-9 aircraft is
        subject to certain contingency provisions. American believes the 787s
        will help reduce its fuel and maintenance costs, lessen its
        environmental impact, and support its goal of providing
        industry-leading products and services over the long term.
    --  Beginning Sept. 30, American began offering PriorityAAccess(SM)
        privileges in U.S. and international airports systemwide.  With
        PriorityAAccess, American's AAdvantage(R) elite status members, First
        and Business Class travelers, AAirpass customers, and passengers
        traveling on full-fare Economy Class tickets receive more control and
        enjoy an easier journey when they travel, with dedicated

PriorityAAccess check-in, security screening lanes (where available),

        and exclusive boarding lanes at the gate.
    --  American introduced a service that allows customers departing from
        select airports to receive boarding passes electronically on their
        mobile phones or PDAs. Mobile boarding passes, which use a
        two-dimensional barcode, were introduced for passengers departing on
        domestic flights from Chicago's O'Hare International, Los Angeles
        International (LAX), and John Wayne Orange County (SNA) airports. The
        mobile boarding pass program is being rolled out in partnership with
        the United States Transportation Security Administration (TSA).
    --  American announced daily nonstop service between Dallas/Fort Worth
        International Airport (DFW) and Madrid, Spain, starting May 1, 2009.
        American announced the route with the expectation that its joint
        business agreement and antitrust immunity application with British
        Airways and Iberia will be approved, and believes DFW-Madrid will be
        the first of many opportunities for American to enhance and expand

connections between the United States and Europe. For more information

on the application and joint business agreement, visit

www.moretravelchoices.com.

-- For the third consecutive year, American was honored as "Best Airline

for Domestic First Class" by the readers of Global Traveler magazine.

The annual GT Tested Awards program surveyed more than 31,400 business

        and leisure travelers to determine the best in business and luxury
        travel for 2008. Readers of Business Traveler magazine also named
        American "Best Airline for First-Class Service in North America" for
        2008. The Business Traveler award was based on the magazine's
        open-ended survey of its readership.


    Guidance

    Mainline and Consolidated Capacity

    AMR expects its full-year mainline capacity to decrease by more than 6.5
percent in 2009 compared to 2008, with a reduction of domestic capacity of
approximately 9 percent and a reduction of international capacity of more than
2.5 percent compared to 2008 levels.  On a consolidated basis, AMR expects
full-year capacity to decrease by nearly 7 percent in 2009 compared to 2008.

    AMR expects mainline capacity in the first quarter of 2009 to decrease by
more than 8.5 percent compared to the first quarter of 2008, with domestic
capacity expected to decline by more than 11.5 percent and international
capacity expected to decline by nearly 4 percent compared to first quarter
2008 levels. AMR expects consolidated capacity in the first quarter of 2009 to
decrease by more than 8.5 percent compared to the first quarter of 2008.

AMR expects regional affiliate capacity to decline by about 9.5 percent in the first quarter of 2009 compared to the prior-year period and expects full-year regional affiliate capacity to decline by more than 8 percent in 2009 compared to 2008 levels.

Fuel Expense and Hedging

    While the cost of jet fuel remains volatile, AMR is planning for an
average system price of $2.04 per gallon in the first quarter of 2009 and
$2.06 per gallon for all of 2009. AMR has 45 percent of its anticipated first
quarter 2009 fuel consumption hedged at an average cap of $2.58 per gallon of
jet fuel equivalent ($93 per barrel crude equivalent), with 42 percent subject
to an average floor of $1.97 per gallon of jet fuel equivalent ($68 per barrel
crude equivalent). AMR has 35 percent of its anticipated full-year consumption
hedged at an average cap of $2.59 per gallon of jet fuel equivalent ($94 per
barrel crude equivalent), with 32 percent subject to an average floor of $1.94
per gallon of jet fuel equivalent ($67 per barrel crude equivalent). As of
Jan. 16, the average 2009 market forward price of crude oil was more than $51
per barrel. Consolidated consumption for the first quarter is expected to be
677 million gallons of jet fuel.

Mainline and Consolidated Unit Costs (Excluding the impact of special items)

For the first quarter of 2009, mainline unit costs are expected to decrease 2.9 percent compared to the first quarter of 2008, while first quarter consolidated unit costs are expected to decrease 3.2 percent compared to the first quarter of 2008.

In the first quarter of 2009, mainline unit costs excluding fuel are expected to increase 10.2 percent year over year while consolidated unit costs excluding fuel are expected to increase 9 percent from the first quarter of 2008.

Full-year mainline unit costs are expected to decrease 6.6 percent in 2009 compared to 2008, while full-year consolidated unit costs are expected to decrease 7.1 percent in 2009 compared to 2008.

AMR expects mainline unit costs excluding fuel to be 9.2 percent higher in 2009 versus 2008, while 2009 consolidated unit costs excluding fuel are expected to increase 7.6 percent year over year.

Factors driving the 2009 unit cost increases include: increased defined benefit pension expenses and employee and retiree medical expenses; unit cost pressure associated with capacity reductions in 2009 that were announced today, including increased facility and landing fees; and dependability initiatives.


    The largest factor driving increased unit costs is higher pension expense,
largely the result of negative investment returns on the Company's pension
assets in 2008 related to the broader stock market decline. At the end of
2008, the accumulated benefit obligation (ABO) funded status of AMR's pension
plans was approximately 69 percent, compared to 96 percent at the end of 2007.
While a material decline, the Company maintains a conservative investment
portfolio with a significant position in U.S. Treasury and U.S. agency bonds.
As a result, the Company believes that its pension funded status declined less
than that of many companies with defined benefit pension plans. According to
estimates from consulting firm Mercer, the aggregate ABO funded status for
plans sponsored by S&P 1500 companies (including their U.S. and non-U.S.
plans) declined by approximately 33 percentage points from year-end 2007 to
year-end 2008.

    Editor's Note: AMR's Chairman  and Chief Executive Officer, Gerard Arpey,
and its Executive Vice President and Chief Financial Officer, Thomas Horton,
will make a presentation to analysts during a teleconference on Wednesday,
January 21, at 2 p.m. EST.  Following the analyst call, they will hold a
question-and-answer conference call for media.  Reporters interested in
listening to the presentation or participating in the media Q&A should call
817-967-1577.

Editor's Note: A live Webcast reporting fourth quarter results will be broadcast on the Internet on Jan. 21 at 2 p.m. EST (Windows Media Player required for viewing)

Statements in this release contain various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. When used in this release, the words "expects," "plans,"

    "anticipates," "indicates," "believes," "forecast," "guidance," "outlook,"
"may," "will," "should," "seeks," "targets" and similar expressions are
intended to identify forward-looking statements.  Similarly, statements that
describe the Company's objectives, plans or goals are forward-looking
statements.  Forward-looking statements include, without limitation, the
Company's expectations concerning operations and financial conditions,
including changes in capacity, revenues and costs; future financing plans and
needs; fleet plans; overall economic and industry conditions; plans and
objectives for future operations; regulatory approvals and actions, including
the Company's application for antitrust immunity with other oneworld alliance
members; and the impact on the Company of its results of operations in recent
years and the sufficiency of its financial resources to absorb that impact.
Other forward-looking statements include statements which do not relate solely
to historical facts, such as, without limitation, statements which discuss the
possible future effects of current known trends or uncertainties, or which
indicate that the future effects of known trends or uncertainties cannot be
predicted, guaranteed or assured.  All forward-looking statements in this
release are based upon information available to the Company on the date of
this release. The Company undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new information,
future events, or otherwise. Guidance given in this release regarding
capacity, fuel consumption, fuel prices, fuel hedging, and unit costs, and
statements of expectations regarding regulatory approval of the Company's
application for antitrust immunity with other oneworld members, are
forward-looking statements.

    Forward-looking statements are subject to a number of factors that could
cause the Company's actual results to differ materially from the Company's
expectations.  The following factors, in addition to other possible factors
not listed, could cause the Company's actual results to differ materially from
those expressed in forward-looking statements:  the materially weakened
financial condition of the Company, resulting from its significant losses in
recent years; the ability of the Company to generate additional revenues and
reduce its costs; changes in economic and other conditions beyond the
Company's control, and the volatile results of the Company's operations; the
Company's substantial indebtedness and other obligations; the ability of the
Company to satisfy existing financial or other covenants in certain of its
credit agreements; continued high and volatile fuel prices and further
increases in the price of fuel, and the availability of fuel; the fiercely and
increasingly competitive business environment faced by the Company; industry
consolidation; competition with reorganized carriers; low fare levels by
historical standards and the Company's reduced pricing power; the Company's
need to raise substantial additional funds and its ability to do so on
acceptable terms; changes in the Company's corporate or business strategy;
government regulation of the Company's business; conflicts overseas or
terrorist attacks; uncertainties with respect to the Company's international
operations; outbreaks of a disease (such as SARS or avian flu) that affects
travel behavior; labor costs that are higher than those of the Company's
competitors; uncertainties with respect to the Company's relationships with
unionized and other employee work groups; increased insurance costs and
potential reductions of available insurance coverage; the Company's ability to
retain key management personnel; potential failures or disruptions of the
Company's computer, communications or other technology systems; changes in the
price of the Company's common stock; and the ability of the Company to reach
acceptable agreements with third parties.  Additional information concerning
these and other factors is contained in the Company's Securities and Exchange
Commission filings, including but not limited to the Company's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2008, and the
Company's Annual Report on Form 10-K for the year ended December 31, 2007.

    Detailed financial information follows:



    AMR CORPORATION
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in millions, except per share amounts)
    (Unaudited)
                                               Three Months Ended
                                             ----------------------
                                                  December 31,       Percent
                                                2008        2007      Change
                                             ----------  ----------  -------
    Revenues
      Passenger - American Airlines           $4,174      $4,352       (4.1)
                - Regional Affiliates            554         606       (8.5)
      Cargo                                      196         228      (13.9)
      Other revenues                             545         497        9.7
                                             ----------  ----------  -------
        Total operating revenues               5,469       5,683       (3.8)
                                             ----------  ----------  -------

    Expenses
      Aircraft fuel                            1,819       1,873       (2.9)

Wages, salaries and benefits 1,720 1,723

(0.2)

      Other rentals and landing fees             314         308        2.0
      Depreciation and amortization              285         310      

(7.9)

Maintenance, materials and repairs 294 267 10.2

Commissions, booking fees and credit

       card expense                              217         241      (10.1)
      Aircraft rentals                           120         140      (14.6)
      Food service                               123         135       (9.2)
      Special charges                             23          63      (63.5)
      Other operating expenses                   750         692        8.4
                                             ----------  ----------  

-------

        Total operating expenses               5,665       5,752       (1.5)
                                             ----------  ----------  -------

    Operating Income                            (196)        (69)         *

    Other Income (Expense)
      Interest income                             43          80      (46.4)
      Interest expense                          (188)       (211)     (11.1)
      Interest capitalized                        10           3          *
      Miscellaneous - net                         (9)        128          *
                                             ----------  ----------  -------
      Total other income                        (144)          -          *
                                             ----------  ----------  -------

    Income/(Loss) Before Income Taxes           (340)        (69)         *
    Income tax                                     -           -          -
                                             ----------  ----------  -------
    Net Income                                 $(340)       $(69)         *
                                             ==========  ==========  =======


    Earnings/(Loss) Per Share
    Basic                                     $(1.22)     $(0.28)
                                             ==========  ==========
    Diluted                                   $(1.22)     $(0.28)
                                             ==========  ==========

    Number of Shares Used in Computation
      Basic                                      279         249
      Diluted                                    279         249

    *  Greater than 100%



    AMR CORPORATION
    OPERATING STATISTICS
    (Unaudited)

                                              Three Months Ended
                                                 December 31,
                                            ---------------------  Percent
                                               2008        2007    Change
                                            ----------  --------- ---------
    American Airlines, Inc. Mainline Jet
     Operations
      Revenue passenger miles (millions)      30,379     33,919    (10.4)
      Available seat miles (millions)         38,797     42,297     (8.3)
      Cargo ton miles (millions)                 458        548    (16.4)
      Passenger load factor                    78.3%      80.2%     (1.9)

pts

      Passenger revenue yield per passenger
       mile (cents)                            13.74      12.83      7.1
      Passenger revenue per available seat
       mile (cents)                            10.76      10.29      4.6
      Cargo revenue yield per ton mile (cents) 42.81      41.56      3.0
      Operating expenses per available seat
       mile, excluding Regional Affiliates
       (cents) (1)                             12.99      12.01      8.2
      Fuel consumption (gallons, in millions)    637        704     (9.5)
      Fuel price per gallon (cents)            259.6      239.7      8.3

    Regional Affiliates
      Revenue passenger miles (millions)       2,012      2,380    (15.5)
      Available seat miles (millions)          2,918      3,318    (12.1)
      Passenger load factor                    68.9%      71.7%     (2.8) pts

    AMR Corporation
      Average Equivalent Number of Employees
        American Airlines                     68,700      72,000
        Other                                 12,400      13,800
                                            ----------  ----------

          Total                               81,100      85,800
                                            ==========  ==========

(1) Excludes $640 million and $717 million of expense incurred related to

        Regional Affiliates in 2008 and 2007, respectively.



    AMR CORPORATION
    OPERATING STATISTICS
    (Unaudited)

    OPERATING STATISTICS BY REGIONAL ENTITY
    (excluding special item)

    American Airlines, Inc.        Three Months Ended December 31, 2008

--------------------------------------------

    Entity Results               RASM(1)      Y-O-Y      ASMs(2)     Y-O-Y
                                 (cents)     Change    (billions)    Change
                                ---------  ----------  ----------  ---------

    DOT Domestic                  10.53        4.8%      23.8      (12.3)%
    International                 11.12        6.3       15.0       (1.0)
      DOT Latin America           12.10        7.3        7.4        0.7
      DOT Atlantic                10.01        3.0        5.9       (3.2)
      DOT Pacific                 10.70       11.0        1.7       (0.3)


    American Airlines, Inc.        Three Months Ended December 31, 2008
                               

--------------------------------------------

    Entity Results                            Y-O-Y
                                Load Factor   Change     Yield      Y-O-Y
                                   (pts)      (pts)     (cents)     Change
                                ---------  ----------  ----------  ---------

    DOT Domestic                   79.6       (1.0)      13.22       6.2%
    International                  76.2       (3.1)      14.60      10.6
      DOT Latin America            74.6       (3.2)      16.23      11.9
      DOT Atlantic                 77.3       (3.4)      12.95       7.5
      DOT Pacific                  79.2       (1.8)      13.50      13.5


    OPERATING STATISTICS BY REGIONAL ENTITY
    (including special item)

    American Airlines, Inc.        Three Months Ended December 31, 2008
                                

--------------------------------------------

    Entity Results               RASM(1)      Y-O-Y       ASMs(2)   Y-O-Y
                                 (cents)      Change    (billions)  Change
                                ---------  ----------  ----------  ---------

    DOT Domestic                  10.53        3.9%       23.8     (12.3)%
    International                 11.12        5.2        15.0      (1.0)
      DOT Latin America           12.10        6.4         7.4       0.7
      DOT Atlantic                10.01        1.7         5.9      (3.2)
      DOT Pacific                 10.70        9.5         1.7      (0.3)


    American Airlines, Inc.        Three Months Ended December 31, 2008
                               

--------------------------------------------

    Entity Results
                                               Y-O-Y
                                Load Factor   Change      Yield      Y-O-Y
                                   (pts)       (pts)     (cents)     Change
                                ---------   ----------  ----------  ---------

    DOT Domestic                   79.6        (1.0)      13.22       5.3%
    International                  76.2        (3.1)      14.60       9.5
      DOT Latin America            74.6        (3.2)      16.23      11.0
      DOT Atlantic                 77.3        (3.4)      12.95       6.2
      DOT Pacific                  79.2        (1.8)      13.50      12.0


    (1) Revenue per Available Seat Mile
    (2) Available Seat Miles



    AMR CORPORATION
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in millions, except per share amounts)
    (Unaudited)

                                               Twelve Months Ended
                                                  December 31,
                                               -------------------
                                                                     Percent
                                                  2008      2007     Change
                                               ---------  --------  ---------
     Revenues
       Passenger - American Airlines            $18,234   $17,651        3.3
                 - Regional Affiliates            2,486     2,470        0.7
       Cargo                                        874       825        6.0
       Other revenues                             2,172     1,989        9.2
                                               ---------  -------- 

---------

         Total operating revenues                23,766    22,935        3.6
                                               ---------  --------  ---------

     Expenses
       Aircraft fuel                              9,014     6,670       35.1
       Wages, salaries and benefits               6,655     6,770       

(1.7)

       Other rentals and landing fees             1,298     1,278        

1.6

       Depreciation and amortization              1,207     1,202        

0.4

Maintenance, materials and repairs 1,237 1,057 17.0

Commissions, booking fees and credit

        card expense                                997     1,028       (3.1)
       Aircraft rentals                             492       591      (16.7)
       Food service                                 518       534       (3.0)
       Special charges                            1,213        63          *
       Other operating expenses                   3,024     2,777        8.9
                                               ---------  --------  

---------

         Total operating expenses                25,655    21,970       16.8
                                               ---------  --------  ---------
     Operating Income                            (1,889)      965          *

     Other Income (Expense)
       Interest income                              181       337      (46.4)
       Interest expense                            (756)     (914)     (17.2)
       Interest capitalized                          33        20       68.1
       Miscellaneous - net                          360        96          *
                                               ---------  --------  ---------
                                                   (182)     (461)     (60.5)
                                                          --------  ---------

     Income/(Loss) Before Income Taxes           (2,071)      504          *
                                               ---------
     Income tax                                       -         -          -
                                               ---------  --------  ---------
     Net Income                                 $(2,071)     $504          *

     Earnings/(Loss) Per Share
     Basic                                        (7.98)    $2.06
                                               =========  ========
     Diluted                                      (7.98)    $1.78
                                               =========  ========

     Number of Shares Used in Computation
       Basic                                        259       245
       Diluted                                      259       299

    *  Greater than 100%


    AMR CORPORATION
    OPERATING STATISTICS
    (Unaudited)

                                            Twelve Months Ended
                                                December 31,
                                           --------------------    Percent
                                               2008       2007     Change
                                           ---------- --------- 

-----------

    American Airlines, Inc. Mainline
     Jet Operations
      Revenue passenger miles (millions)     131,757    138,453     (4.8)
      Available seat miles (millions)        163,532    169,906     (3.8)
      Cargo ton miles (millions)               2,005      2,122     (5.5)
      Passenger load factor                     80.6%      81.5%    (0.9)

pts

      Passenger revenue yield per passenger
       mile (cents)                            13.84      12.75      8.6
      Passenger revenue per available seat
       mile (cents)                            11.15      10.39      7.3
      Cargo revenue yield per ton mile (cents) 43.59      38.86     12.2
      Operating expenses per available seat
       mile, excluding Regional Affiliates
        (cents) (1)                            13.87      11.38     21.9
      Fuel consumption (gallons, in millions)  2,694      2,834     (4.9)
      Fuel price per gallon (cents)            302.6      212.1     42.7

    Regional Affiliates
      Revenue passenger miles (millions)       8,846      9,848    (10.2)
      Available seat miles (millions)         12,603     13,414     (6.0)
      Passenger load factor                     70.2%      73.4%    (3.2) pts

    AMR Corporation
      Average Equivalent Number of Employees
        American Airlines                     70,900     71,800
        Other                                 13,200     13,700
                                            --------- ---------
          Total                               84,100     85,500
    (1)  Excludes $3.1 billion and $2.8 billion of expense incurred related
         to Regional Affiliates in 2008 and 2007, respectively.



    AMR CORPORATION
    OPERATING STATISTICS
    (Unaudited)

    OPERATING STATISTICS BY REGIONAL ENTITY
    (excluding special items)

    American Airlines, Inc.    Twelve Months Ended December 31, 2008
                            -------------------------------------------

    Entity Results           RASM(1)     Y-O-Y       ASMs(2)    Y-O-Y
                             (cents)     Change    (billions)   Change
                            --------    --------     --------  --------

    DOT Domestic             10.81        5.7%       101.9      (6.1)%
    International            11.71       10.4         61.7       0.5
      DOT Latin America      12.47       12.2         30.3       2.2
      DOT Atlantic           10.96        7.0         24.6      (1.4)
      DOT Pacific            11.04       13.6          6.7      (0.4)


    American Airlines, Inc.    Twelve Months Ended December 31, 2008
                            ------------------------------------------
    Entity Results                       Y-O-Y
                           Load Factor   Change      Yield     Y-O-Y
                              (pts)      (pts)      (cents)    Change
                            --------    --------   --------   --------

    DOT Domestic              81.8       (1.0)       13.22       7.0%
    International             78.6       (0.6)       14.91      11.3
      DOT Latin America       77.8        0.3        16.03      11.7
      DOT Atlantic            78.6       (1.6)       13.94       9.1
      DOT Pacific             81.8       (1.1)       13.49      15.1


    OPERATING STATISTICS BY REGIONAL ENTITY
    (including special items)
    American Airlines, Inc.      Twelve Months Ended December 31, 2008
                            --------------------------------------------
    Entity Results          RASM(1)      Y-O-Y      ASMs(2)      Y-O-Y
                            (cents)     Change    (billions)     Change
                            --------   --------   ------------  --------

    DOT Domestic             10.81        5.5%       101.9       (6.1)%
    International            11.71       10.1         61.7        0.5
      DOT Latin America      12.47       11.9         30.3        2.2
      DOT Atlantic           10.96        6.6         24.6       (1.4)
      DOT Pacific            11.04       13.2          6.7       (0.4)


          American Airlines, Inc.     Twelve Months Ended December 31, 2008
                             ------------------------------------------
    Entity Results                       Y-O-Y
                          Load Factor    Change      Yield      Y-O-Y
                             (pts)       (pts)      (cents)     Change
                             -------   --------    ---------   --------

    DOT Domestic              81.8       (1.0)       13.22       6.8%
    International             78.6       (0.6)       14.91      11.0
      DOT Latin America       77.8        0.3        16.03      11.5
      DOT Atlantic            78.6       (1.6)       13.94       8.8
      DOT Pacific             81.8       (1.1)       13.49      14.7


    (1) Revenue per Available Seat Mile
    (2) Available Seat Miles



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

    American Airlines, Inc. Mainline Jet Operations     Three Months Ended
                                                            December 31,
                                                       --------------------
    (in millions, except as noted)                        2008       2007
                                                       ---------  ---------

     Passenger revenue per available seat mile, (cents)    10.76      10.29
     Less: Impact of special items (cents)                    -       0.09
                                                       ---------  ---------
     Passenger revenue per available seat mile,
       excluding impact of special items (cents)           10.76      10.20
                                                       =========  =========

    Percent change                                         5.5%


                                                        Three Months Ended
    American Airlines, Inc. Mainline Jet Operations        December 31,
    (in millions, except as noted)                     --------------------
                                                         2008        2007
                                                       ---------  ---------

     Passenger yield (cents)                             13.74      12.83
     Less: Impact of special items (cents)                   -       0.12
                                                       ---------  ---------

     Passenger yield, excluding impact of special
      items (cents)                                      13.74      12.71
                                                       =========  =========
                                                                         Percent change                                        8.1%


                                                       Three Months Ended
                                                          December 31,
    AMR Corporation Consolidated                     --------------------

    (in millions, except as noted)                       2008        2007
                                                      ---------  ---------

     Passenger revenue per available seat mile (cents)   11.33      10.87
     Less: Impact of special item (cents)                    -       0.09
                                                      ---------  ---------
     Passenger revenue per available seat mile,
      excluding special item (cents)                     11.33      10.78
                                                      =========  =========

    Percent change                                        5.1%



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

                                                        Three Months Ended
    AMR Corporation Consolidated                           December 31,
                                                       --------------------
    (in millions, except as noted)                       2008       2007
                                                       ---------  ---------

     Total operating revenue (millions)                  5,469      5,683
     Less: Impact of special items (millions)                -         39
                                                       ---------  ---------
     Total operating revenue, excluding special
      items (millions)                                   5,469      5,644
                                                       =========  =========

    Percent change                                       (3.1)%


                                                            Year Ended
                                                           December 31,
    AMR Corporation Consolidated                       --------------------
    (in millions, except as noted)                       2008       2007
                                                       ---------  ---------

     Total operating revenue (millions)                  23,766     22,935
     Less: Impact of special items (millions)                 -         39
                                                       ---------  ---------
     Total operating revenue, excluding special
      items (millions)                                   23,766     22,895
                                                       =========  =========

    Percent change                                         3.8%


    AMR Corporation Consolidated                         Three Months Ended
                                                           December 31,
                                                       

--------------------

    (in millions, except as noted)                         2008       2007
                                                        ---------  

---------


     Total passenger revenue (millions)                   4,728      4,958
     Less: Impact of special items (millions)                 -         39
                                                        ---------  

---------

Total operating revenue, excluding special

      items (millions)                                    4,728      4,919
                                                        =========  =========

    Percent change                                        (3.9)%


    AMR Corporation                                      Three Months Ended
                                                           December 31,
                                                        --------------------
    (in millions, except as noted)                        2008       2007
                                                        ---------  

---------

Operating expenses per available seat mile (cents) 13.58 12.61

    Less: Impact of special item (cents)                  0.30       0.14
                                                        ---------  

---------

Operating expenses per available seat mile,

     excluding special item (cents)                      13.28      12.47
                                                        ---------  ---------

    Percent change                                         6.5%

Less: Fuel expense per available seat mile (cents) 4.36 4.11

                                                        ---------  

---------

Operating expenses per available seat mile,

excluding fuel expense and special item (cents) 8.92 8.36

                                                        =========  =========

    Percent change                                         6.6%



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

    American Airlines, Inc. Mainline Jet Operations   Three Months Ended
                                                          December 31,
                                                      --------------------
    (in millions, except as noted)                       2008       2007
                                                      ---------  ---------

     Total operating expenses                           $5,680     $5,796
     Less: Operating expenses incurred related to
      Regional Affiliates                                  640        717
                                                       ---------  ---------
     Operating expenses excluding expenses incurred
      related to Regional Affiliates                    $5,041     $5,079
     American mainline jet operations available
      seat miles                                        38,797     42,297

     Operating expenses per available seat mile,
      excluding Regional Affiliates (cents)              12.99      12.01

     Less: Impact of special items (cents)                0.32       0.15
                                                      ---------  ---------
     Operating expenses per available seat mile,
      excluding impact of special items (cents)          12.67      11.86
                                                      =========  =========

    Percent change                                         6.8%


    American Airlines, Inc. Mainline Jet Operations
                                                         Three Months Ended
                                                           December 31,
                                                       --------------------

    (in millions, except as noted)                        2008       2007
                                                       ---------  ---------

     Total operating expenses                            $5,680     $5,796
     Less: Operating expenses incurred related to
      Regional Affiliates                                   640        717
                                                       ---------  ---------
     Operating expenses excluding expenses incurred
      related to Regional Affiliates                     $5,041     $5,079
     American mainline jet operations available
      seat miles                                         38,797     42,297

     Operating expenses per available seat mile,
      excluding Regional Affiliates (cents)               12.99      12.01

     Less: Impact of special items (cents)                 0.32       0.15
     Less: Fuel cost per available seat mile (cents)       4.26       3.99
                                                       ---------  ---------
     Operating expenses per available seat mile,
      excluding impact of special items and the
      cost of fuel (cents)                                 8.41      7.87
                                                       =========  =========

    Percent change                                         6.8%

    Note: The Company believes that operating expenses per available seat
    mile, excluding the cost of fuel and special items, assists investors in

understanding the impact of fuel prices and special items on the Company's

    operations.



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

    AMR Corporation
    Calculation of Net Debt
                                                        As of December 31
                                                        -----------------
    (in millions, except as noted)                        2008       2007
                                                        -------    -------


    Current and long-term debt                          $10,269    $10,315
    Current and long-term capital lease obligations         689        828
    Principal amount of certain airport facility
     tax-exempt bonds and the present value of
     aircraft operating lease obligations                 4,180      4,424
                                                        -------    -------
                                                         15,138     15,567
    Less:  Unrestricted cash and short-term investments   3,107      4,535
                                                        -------    -------

    Net Debt                                            $12,031    $11,032
                                                        =======    =======

    Note:  The Company believes the net debt metric assists investors in
    understanding changes in the Company's liquidity and the results of its
    efforts to build a financial foundation under the Company's Turnaround
    Plan.



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

                                                           Estimate for
    American Airlines, Inc. Mainline Jet Operations         Year Ended
                                                            December 31,
                                                        ------------------
    (in millions, except as noted)                        2009       2008
                                                        -------    -------

     Operating expenses per available seat mile,
      excluding Regional Affiliates (cents)                12.28      13.87
     Less: Impact of special items (cents)                     -       0.73
                                                         -------    -------
     Operating expenses per available seat mile,
      excluding Regional Affiliates, special items(cents)  12.28      13.14
                                                         =======    =======

    Percent change                                         (6.6%)

     Less: Fuel expense per available seat mile (cents)     3.37       4.99
                                                         -------    -------
     Operating expenses per available seat mile,
      excluding Regional Affiliates, special items,
      fuel expense (cents)                                 8.91       8.15
                                                         =======    =======

    Percent change                                         9.2%

                                                            Estimate for
    American Airlines, Inc. Mainline Jet Operations      Three Months Ended
                                                              March 31,
                                                        ------------------

    (in millions, except as noted)                        2009       2008
                                                        -------    -------

     Operating expenses per available seat mile,
      excluding Regional Affiliates (cents)               12.27       12.63
     Less: Impact of special items (cents)                    -           -
                                                         -------    -------
     Operating expenses per available seat mile,
      excluding Regional Affiliates, special items
      (cents)                                             12.27       12.63
                                                         =======    =======

    Percent change                                        (2.9)%

    Less: Fuel expense per available seat mile (cents)     3.33        4.52
                                                         -------    -------
    Operating expenses per available seat mile,
     excluding Regional Affiliates, special items,
     fuel expense (cents)                                  8.94        8.11
                                                         =======    =======

    Percent change                                        10.2%



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

                                                          Estimate for
                                                           Year Ended
     AMR Corporation                                       December 31,
                                                        ------------------
    (in millions, except as noted)                       2009       2008
                                                        -------    -------

     Operating expenses per available seat mile (cents)  12.84      14.57
     Less: Impact of special items (cents)                   -       0.75
                                                        -------    -------
     Operating expenses per available seat mile,
      excluding special items(cents)                     12.84      13.82
                                                        =======    =======

    Percent change                                       (7.1)%

     Less: Fuel expense per available seat mile
      (cents)                                             3.48       5.12
                                                        -------    -------
     Operating expenses per available seat mile,
      excluding special items, fuel expense (cents)       9.36       8.70
                                                        =======    =======

    Percent change                                        7.6%


                                                           Estimate for
                                                       Three Months Ended
    AMR Corporation                                         March 31,
                                                        ------------------
    (in millions, except as noted)                       2009       2008
                                                        -------    -------

     Operating expenses per available seat mile (cents)  12.90      13.32
                                                        -------    -------
     Less: Impact of special items (cents)                   -          -
     Operating expenses per available seat mile,
      excluding special items(cents)                     12.90      13.32
                                                        =======    =======

    Percent change                                       (3.2)%

     Less: Fuel expense per available seat mile (cents)   3.44       4.64
                                                        -------    -------
     Operating expenses per available seat mile,
      excluding special items, fuel expense (cents)       9.46       8.68
                                                        =======    =======

    Percent change                                        9.0%



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

    AMR Corporation
    Reclassification of AAdvantage Mileage Third-Party
    Sales Revenue

                                                        Three Months Ended
                                                          March 31, 2007
                                                    -------------------------

    (in millions, except as noted)                  As Reported  

Reclassified

                                                    -----------  

------------

Passenger revenue - American Airlines$4,326

$4,176
      Other revenues                                        342          492
                                                    -----------  ------------

      Total                                              $4,668       $4,668
                                                    ===========  ============


      Available seat miles                               41,691       41,691
                                                    ===========  ============


      Passenger revenue per available seat mile (cents)   10.38        10.02



                                                        Three Months Ended
                                                           June 30, 2007
                                                    -------------------------

     (in millions, except as noted)                 As Reported  Reclassified
                                                    -----------  ------------

      Passenger revenue  - American Airlines             $4,673      $4,525
      Other revenues                                        348         496
                                                    -----------  ------------

      Total                                              $5,021      $5,021
                                                    ===========  ============


      Available seat miles                               42,647      42,647
                                                    ===========  ============

      Passenger revenue per available seat mile (cents)   10.96       10.61


                                                       Three Months Ended
                                                       September 30, 2007
                                                   -------------------------

     (in millions, except as noted)                 As Reported  Reclassified
                                                   ------------  -----------

      Passenger revenue  - American Airlines            $4,750      $4,598
      Other revenues                                       352         504
                                                   ------------  -----------

      Total                                             $5,102      $5,102
                                                   ============  ===========

      Available seat miles                              43,271      43,271
                                                   ============  ===========

      Passenger revenue per available seat
      mile (cents)                                       10.98       10.63


                                                       Three Months Ended
                                                       December 31, 2007
                                                   -------------------------

     (in millions, except as noted)                 As Reported  Reclassified
                                                   ------------  ------------


      Passenger revenue  - American Airlines           $4,486       $4,352
      Other revenues                                      363          497
                                                   ------------  ------------


      Total                                            $4,849       $4,849
                                                   ============  ============


      Available seat miles                             42,297       42,297
                                                   ============  ============


      Passenger revenue per available seat
       mile (cents)                                     10.61        10.29



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

    AMR Corporation
    Impact of Special Items                          Three Months Ended
    (in millions, except per share amounts)           December 31, 2008
                                                   -------------------------
                                                       Amount        EPS
                                                   ------------  -----------
    Net income/(loss)                                  $(340)      $(1.22)
    Impact of special items                              126         0.45
                                                   -----------  -----------
    Income/(loss) excluding special items              $(214)      $(0.77)
                                                   ============  ===========


    AMR Corporation
    Impact of Special Items                            Three Months Ended
    (in millions, except per share amounts)            December 31, 2007
                                                   -------------------------
                                                        Amount        EPS
                                                   ------------  -----------

    Net income/(loss)                                    $(69)      $(0.28)
    Impact of special items                              (115)       (0.46)
                                                   ------------  -----------

    Income/(loss)  excluding special items              $(184)      $(0.74)
                                                   ============  ===========

    Note: The Company believes income excluding special items assists
    investors in understanding the impact of special items on the Company's
    operations.



    AMR CORPORATION
    NON-GAAP AND OTHER RECONCILIATIONS
    (Unaudited)

    AMR Corporation
    Impact of Special Items                                Year Ended
    (in millions, except per share amounts)             December 31, 2008
                                                    -------------------------
                                                        Amount         EPS
                                                    ------------  ------------

    Net income/(loss)                                  $(2,071)      $(7.98)
    Impact of special items                                885         3.41
                                                    ------------  ------------
    Income/(loss) excluding special items              $(1,186)      $(4.57)
                                                    ============  ============


    AMR Corporation
    Impact of Special Items                                Year Ended
    (in millions, except per share amounts)             December 31, 2007
                                                    -------------------------
                                                        Amount         EPS
                                                    ------------  ------------

    Net income                                            $504        $1.78
    Impact of special items                                (84)       (0.28)
                                                    ------------  ------------
    Income excluding special items                        $420        $1.50
                                                    ============  

============

Note: The Company believes income excluding special items assists investors in understanding the impact of special items on the Company's operations.

Current AMR Corp. news releases can be accessed on the Internet. The address is: http://www.aa.com

SOURCE AMR Corporation

CONTACT:
Andy Backover
Corporate Communications of American Airlines, Inc.
Fort Worth, Texas
+1-817-967-1577
corp.comm@aa.com