AMR Corporation Reports a Third Quarter 2009 Net Loss of $359 Million
The current quarter results compare to a net profit of
The Company made significant financing, network and fleet renewal announcements during the third quarter that better position it to address near-term challenges and achieve long-term success. Since the end of the second quarter, the Company announced a series of transactions through which it obtained approximately
Completed financing transactions included:
-- A $520 million public offering of enhanced equipment trust certificates
(EETC) that bolstered liquidity and also provided financing for
deliveries of previously ordered Boeing 737s.
-- A $276 million private placement of debt, secured by owned aircraft, the
proceeds of which were received in the fourth quarter and used to
refinance a portion of the Company's 1999-1 EETC that matured on Oct.
15, 2009 .
-- $1 billion from the advance sale of AAdvantage(TM) frequent flyer miles
to Citi.
-- A $282 million loan facility from GE Capital Aviation Services (GECAS)
secured by owned aircraft (all but approximately $55 million was
included in the Company's third quarter 2009 cash and short-term
investment balance).
-- $1.6 billion in sale-leaseback financing commitments from GECAS for
previously ordered Boeing 737s to be delivered in 2010 and 2011.
-- $860 million in cash from the sale by AMR of common stock and 6.25%
convertible senior notes.
-- A $450 million private placement of debt secured by aircraft that
refinanced American's term loan credit facility (completed Oct. 9,
2009 ).
Network and Fleet announcements included:
-- Plans to add flights and destinations as well as to focus its presence
in Dallas/Fort Worth , Chicago , Miami , New York and Los Angeles while
keeping 2010 capacity relatively flat by eliminating unprofitable flying
in non-core markets. For Summer 2010 compared to the Winter 2009/2010
schedule, the Company plans to add 57 daily flights in Chicago , 23 in
Miami , 19 in Dallas/Fort Worth , and 11 in New York and Los Angeles
combined.
-- An agreement to select GE's GEnx -1B 74/75 engine for American's expected
Boeing 787 deliveries.
-- Plans for American Eagle to enhance its product by adding a First Class
cabin to its fleet of 25 Bombardier CRJ700 regional jets and by signing
a letter of intent with Bombardier, Inc. to exercise options for the
purchase of 22 additional CRJ700 aircraft for delivery beginning in the
middle of 2010. The new CRJ700 aircraft are expected to be fully
financed.
"A difficult revenue environment driven by the weakened global economy continues to overwhelm the benefit of significantly lower fuel prices, but our third quarter accomplishments better position us to address these near-term challenges and be competitive and successful for the long haul," said AMR Chairman and CEO
Arpey reiterated expectations that American and four of its fellow oneworld members -
Financial and Operational Performance (Excluding Impact of Special Items)
AMR reported third quarter consolidated revenues of approximately
Other revenues, from sources such as confirmed flight changes, purchased upgrades, Buy-on-Board food services, and baggage service charges, increased 1.4 percent to
American's mainline passenger revenue per available seat mile (unit revenue) declined by 14.5 percent in the third quarter compared to the year-ago quarter. While this reflects a challenging economic environment, the Company believes the strength of its network and its efforts to drive a revenue premium have helped its mainline unit revenue performance outpace that of several of its legacy network competitors throughout 2009.
Mainline capacity, or total available seat miles, in the third quarter decreased by 8.2 percent compared to the same period in 2008, as the Company continued to exercise capacity discipline given the difficult demand environment.
American's mainline load factor - or the percentage of total seats filled - was a record 83.9 percent during the third quarter, compared to 82.2 percent in the third quarter of 2008. American's third quarter yield, which represents average fares paid, decreased by 16.3 percent compared to the third quarter of 2008. The decrease in yield was largely due to more aggressive pricing industrywide and reduced traffic in the premium cabins.
American's mainline cost per available seat mile (unit cost) in the third quarter decreased by 13.5 percent year over year, due to lower fuel prices. Taking into account the impact of fuel hedging, AMR paid
Excluding fuel, mainline unit costs in the third quarter of 2009 increased by 7.2 percent year over year, driven by reduced capacity, higher pension expenses, higher materials and repairs expenses, and investments in dependability initiatives.
Balance Sheet Update
AMR ended the third quarter with
The Company expects to include approximately
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
Other Third Quarter and Recent Highlights
-- American's "A+14" on-time performance, as measured by the U.S.
Department of Transportation (DOT), was 78.5 percent during the third
quarter of 2009, an improvement of 4.6 percentage points compared to the
same period in 2008. Year to date through the third quarter, American's
A+14 performance was 76.8 percent, an improvement of 9.8 percentage
points compared to the prior-year period.
-- American completed installation of the Gogo® Inflight Internet Wi-Fi
service on 150 MD-80 aircraft, bringing the total number of American
aircraft installed with inflight internet to more than 165 planes,
including Boeing 767-200s that are used for transcontinental service.
-- AMR took another step in reinforcing the Company's commitment to
enhancing customer service and expanding its information technology
leadership position by signing a letter of intent with HP to develop a
next-generation Passenger Service System. This effort continues the
Company's focus on enhancing its customers' travel experiences.
-- American enhanced its AA.com® Notification Center, enabling customers
to set up flight status notification preferences and receive messages
for all future flights, instead of having to request notifications for
each different flight.
Fourth Quarter and 2009 Guidance
Mainline and Consolidated Capacity
AMR expects its full-year mainline capacity to decrease by approximately 7.5 percent in 2009 compared to 2008, with a reduction of domestic capacity of approximately 9 percent and a reduction of international capacity of approximately 5 percent compared to 2008 levels. On a consolidated basis, AMR expects full-year capacity to decrease by approximately 7.5 percent in 2009 compared to 2008.
AMR expects mainline capacity in the fourth quarter of 2009 to decrease by approximately 6 percent compared to the fourth quarter of 2008, with domestic capacity expected to decline by approximately 5 percent and international capacity expected to decline by approximately 7.5 percent compared to fourth quarter 2008 levels. AMR expects consolidated capacity in the fourth quarter of 2009 to decrease by approximately 5.5 percent compared to the fourth quarter of 2008.
AMR expects regional affiliate capacity to decline by more than 1 percent in the fourth quarter of 2009 compared to the prior-year period and expects full-year regional affiliate capacity to decline by approximately 8 percent in 2009 compared to 2008.
Fuel Expense and Hedging
While the cost of jet fuel remains very volatile, based on the
Mainline and Consolidated Cost per Available Seat Mile (CASM) -- Excluding Impact of Special Items
4Q2009 (est.) Full year 2009
vs. 4Q2008 (est.) vs. 2008
H/(L) H/(L)
-------------- -----------------
Mainline (0.8)% (8.8)%
Excluding Fuel 8.3 6.9
Consolidated (1.0) (9.1)
Excluding Fuel 7.3 5.6
Reasons for the expected unit cost increases include higher pension expenses, materials and repairs, dependability initiatives, and cost pressure related to capacity reductions. These factors are expected to be offset somewhat by lower passenger and cargo costs from reduced demand and other cost savings efforts.
Editor's Note: AMR's Chairman and Chief Executive Officer,
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 our 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; the amounts of the Company's unencumbered assets and other sources of liquidity; 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 one world 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. This release includes forecasts of unit cost and revenue performance, fuel prices and fuel hedging, capacity and traffic estimates, other income/expense estimates, share count, statements regarding the Company's liquidity, and statements regarding expectations of regulatory approval of our application for antitrust immunity with other oneworld members, each of which is a forward-looking statement. 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; weaker demand for air travel and lower investment asset returns resulting from the severe global economic downturn; the Company's need to raise substantial additional funds and its ability to do so on acceptable terms; the ability of the Company to generate additional revenues and reduce its costs; continued high and volatile fuel prices and further increases in the price of fuel, and the availability of fuel; the Company's substantial indebtedness and other obligations; the ability of the Company to satisfy certain covenants and conditions in certain of its financing agreements; changes in economic and other conditions beyond the Company's control, and the volatile results of the Company's operations; the fiercely and increasingly competitive business environment faced by the Company; potential industry consolidation and alliance changes; competition with reorganized carriers; low fare levels by historical standards and the Company's reduced pricing power; 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, avian flu or the H1N1 virus) 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; losses and adverse publicity resulting from any accident involving the Company's aircraft; 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
Detailed financial information follows:
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(as reclassified)
(in millions, except per share amounts)
(Unaudited)
Three Months Ended
September 30,
-------------------- Percent
2009 2008 Change
Revenues ---- ---- -------
Passenger - American Airlines $3,882 $4,946 (21.5)
- Regional Affiliates 523 668 (21.7)
Cargo 136 230 (40.8)
Other revenues 585 577 1.4
--- --- ---
Total operating revenues 5,126 6,421 (20.2)
----- ----- -----
Expenses
Wages, salaries and benefits 1,702 1,633 4.2
Aircraft fuel 1,453 2,722 (46.6)
Other rentals and landing fees 344 344 0.1
Depreciation and amortization 272 289 (5.8)
Maintenance, materials and repairs 329 304 7.9
Commissions, booking fees and
credit card expense 221 264 (16.0)
Aircraft rentals 126 122 2.9
Food service 128 135 (4.9)
Special charges 64 27 *
Other operating expenses 681 797 (14.6)
--- --- -----
Total operating expenses 5,320 6,637 (19.8)
----- ----- -----
Operating Income (194) (216) (10.0)
Other Income (Expense)
Interest income 7 37 (80.9)
Interest expense (182) (204) (10.4)
Interest capitalized 11 10 11.0
Miscellaneous - net (31) 404 *
--- --- ---
(195) 247 *
---- --- ---
Income/(Loss) Before Income Taxes (389) 31 *
Income tax (30) - *
--- --- ---
Net Income $(359) $31 *
===== === ===
Earnings/(Loss) Per Share
Basic $(1.26) $0.12
====== =====
Diluted $(1.26) $0.12
====== =====
Number of Shares Used in Computation
Basic 285 258
Diluted 285 268
* Greater than 100%
AMR CORPORATION
OPERATING STATISTICS
(as reclassified)
(Unaudited)
Three Months Ended
September 30,
-------------- Percent
2009 2008 Change
---- ---- ------
American Airlines, Inc.
Mainline Jet Operations
Revenue passenger miles (millions) 32,352 34,491 (6.2)
Available seat miles (millions) 38,542 41,965 (8.2)
Cargo ton miles (millions) 416 509 (18.4)
Passenger load factor 83.9% 82.2% 1.8 pts
Passenger revenue yield per
passenger mile (cents) 12.00 14.34 (16.3)
Passenger revenue per
available seat mile (cents) 10.07 11.79 (14.5)
Cargo revenue yield per ton
mile (cents) 32.79 45.16 (27.4)
Operating expenses per
available seat mile,
excluding Regional
Affiliates (cents) (1) 12.29 13.99 (12.1)
Fuel consumption (gallons,
in millions) 636 690 (7.9)
Fuel price per gallon (dollars) 2.06 3.57 (42.1)
Regional Affiliates
Revenue passenger miles (millions) 2,153 2,293 (6.1)
Available seat miles (millions) 2,947 3,305 (10.8)
Passenger load factor 73.1% 69.4% 3.7 pts
AMR Corporation
Average Equivalent Number of Employees
American Airlines 66,400 71,000
Other 12,300 13,100
------ ------
Total 78,700 84,100
====== ======
(1) Excludes $630 million and $798 million of expense incurred related
to Regional Affiliates in 2009 and 2008, respectively.
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
OPERATING STATISTICS BY REGIONAL ENTITY
American Airlines, Inc. Three Months Ended September 30, 2009
----------------------------------------------
Entity Results RASM(1) Y-O-Y ASMs(2) Y-O-Y
(cents) Change (billions) Change
--------- ------ ---------- ------
DOT Domestic 9.94 (11.0)% 23.6 (9.5)%
International 10.29 (19.7) 15.0 (5.9)
DOT Latin America 11.11 (18.2) 6.7 (9.1)
DOT Atlantic 9.80 (19.6) 6.5 (3.4)
DOT Pacific 8.91 (24.9) 1.7 (1.9)
American Airlines, Inc. Three Months Ended September 30, 2009
Entity Results --------------------------------------------
Load Y-O-Y
Factor Change Yield Y-O-Y
(pts) (pts) (cents) Change
------ ------- ------ ------
DOT Domestic 85.2 2.4 11.66 (13.5)
International 81.9 0.7 12.56 (20.4)
DOT Latin America 81.6 0.7 13.61 (18.9)
DOT Atlantic 82.7 1.4 11.85 (21.0)
DOT Pacific 80.2 (1.8) 11.11 (23.2)
(1) Revenue per Available Seat Mile
(2) Available Seat Miles
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
American Airlines, Inc. Mainline Jet Three Months Ended September 30,
Operations --------------------------------
(in millions, except as noted) 2009 2008
---- ----
Total operating expenses $5,368 $6,670
Less: Operating expenses incurred
related to Regional Affiliates 630 798
--- ---
Operating expenses excluding
expenses incurred related to
Regional Affiliates $4,738 $5,872
American mainline jet operations
available seat miles 38,542 41,965
------ ------
Operating expenses per available
seat mile, excluding Regional
Affiliates (cents) 12.29 13.99
===== =====
Percent change (12.1)%
American Airlines, Inc. Mainline Jet Three Months Ended September 30,
Operations --------------------------------
(in millions, except as noted) 2009 2008
---- ----
Total operating expenses $5,368 $6,670
Less: Operating expenses incurred
related to Regional Affiliates 630 798
--- ---
Operating expenses excluding
expenses incurred related to
Regional Affiliates $4,738 $5,872
American mainline jet operations
available seat miles 38,542 41,965
------ ------
Operating expenses per available
seat mile, excluding Regional
Affiliates (cents) 12.29 13.99
Less: Impact of special items 0.24 0.06
---- ----
Operating expenses per available
seat mile, excluding impact of
special items (cents)
12.05 13.93
===== =====
Percent change (13.5)%
Less: Fuel cost per available seat
mile (cents) 3.41 5.87
---- ----
Operating expenses per available
seat mile, excluding impact of
special items and the cost of fuel
(cents)
8.64 8.06
==== ====
Percent change 7.2%
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 September 30
------------------------
(in millions, except as noted) 2009 2008
---- ----
Current and long-term debt $10,913 $10,415
Current and long-term capital lease
obligations 680 711
Principal amount of certain airport facility
tax-exempt bonds and the present value of
aircraft operating lease obligations
4,122 4,235
----- -----
15,715 15,361
Less: Unrestricted cash and short-term
investments 4,112 4,621
----- -----
Net Debt $11,603 $10,740
======= =======
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
Three Months Ended September 30,
--------------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile 12.82 14.66
Less: Impact of special items 0.22 0.06
---- ----
Operating expenses per available seat mile 12.60 14.60
===== =====
Percent change (13.7)%
Less: Fuel cost per available seat mile
(cents) 3.51 6.01
---- ----
Operating expenses per available seat mile,
excluding impact of special items and the
cost of fuel (cents)
9.09 8.59
==== ====
Percent change 5.9%
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
American Airlines, Inc. Mainline Jet
Operations Estimate for
Three Months Ended December 31
------------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates
(cents) 12.57 12.99
Less: Impact of special items (cents) - 0.32
--- ----
Operating expenses per available seat
mile, excluding Regional Affiliates and
impact of special items (cents) 12.57 12.67
===== =====
(0.8)%
Percent change
Less: Fuel expense per available seat
mile (cents) 3.46 4.26
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates,
impact of special items and fuel
expense (cents) 9.11 8.41
==== ====
Percent change 8.3%
American Airlines, Inc. Mainline Jet Estimate for
Operations Year Ended December 31
------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates
(cents) 12.10 13.87
Less: Impact of special items (cents)
0.11 0.73
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates and
impact of special items (cents) 11.99 13.14
===== =====
Percent change (8.8)%
Less: Fuel expense per available seat
mile (cents) 3.28 4.99
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates,
impact of special items and fuel
expense (cents) 8.71 8.15
==== ====
Percent change 6.9%
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
AMR Corporation Estimate for
Year Ended December 31
----------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile
(cents) 12.67 14.57
Less: Impact of special items (cents) 0.11 0.75
---- ----
Operating expenses per available seat mile,
excluding impact of special items (cents) 12.56 13.82
===== =====
Percent change (9.1)%
Less: Fuel expense per available seat mile
(cents) 3.37 5.12
---- ----
Operating expenses per available seat mile,
excluding impact of special items and fuel
expense (cents) 9.19 8.70
==== ====
Percent change 5.6%
AMR Corporation Estimate for
Three Months Ended December 31
------------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile
(cents) 13.15 13.58
Less: Impact of special items (cents) - 0.30
--- ----
Operating expenses per available seat mile,
excluding impact of special items (cents) 13.15 13.28
===== =====
Percent change (1.0)%
Less: Fuel expense per available seat mile
(cents) 3.58 4.36
---- ----
Operating expenses per available seat mile,
excluding impact of special items and fuel
expense (cents) 9.57 8.92
==== ====
Percent change 7.3%
AMR Corporation Three Months Ended September 30
-------------------------------
(in millions, except as noted) 2009 2008
---- ----
Net Income/(Loss) (359) 31
Less: Impact of special items (94) (405)
--- ----
Net Income/(Loss), excluding impact of
special items (265) (374)
==== ====
Earnings/(Loss) Per Share
Basic (0.93) (1.45)
Diluted (0.93) (1.45)
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
Nine Months Ended September 30,
------------------------------- Percent
2009 2008 Change
---- ---- ------
Revenues
Passenger - American Airlines $11,239 $14,060 (20.1)
- Regional Affiliates 1,493 1,932 (22.7)
Cargo 414 678 (38.9)
Other revenues 1,709 1,627 5.0
----- ----- ---
Total operating revenues 14,855 18,297 (18.8)
------ ------ -----
Expenses
Wages, salaries and benefits 5,087 4,935 3.1
Aircraft fuel 4,085 7,195 (43.2)
Other rentals and landing fees 1,006 985 2.2
Depreciation and amortization 826 922 (10.4)
Maintenance, materials and repairs 948 943 0.5
Commissions, booking fees and
credit card expense 646 780 (17.1)
Aircraft rentals 376 372 1.1
Food service 365 395 (7.7)
Special charges 100 1,191 (91.6)
Other operating expenses 2,030 2,272 (10.7)
----- ----- -----
Total operating expenses 15,469 19,990 (22.6)
------ ------ -----
Operating Income (614) (1,693) (63.7)
Other Income
(Expense)
Interest income 27 138 (80.6)
Interest expense (535) (609) (12.1)
Interest capitalized 32 23 36.9
Miscellaneous - net (64) 370 *
--- --- ---
(540) (78) *
---- --- ---
Income Before Income Taxes (1,154) (1,771) (34.8)
Income tax (30) - *
--- --- ---
Net Income $(1,124) $(1,771) (36.5)
======= ======= =====
Earnings Per Share
Basic $(4.00) $(7.00)
====== ======
Diluted $(4.00) $(7.00)
====== ======
Number of Shares Used in Computation
Basic 281 253
Diluted 281 253
* Greater than 100%
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
Nine Months Ended
September 30,
------------------- Percent
2009 2008 Change
---- ---- ------
American Airlines, Inc.
Mainline Jet Operations
Revenue passenger miles
(millions) 92,510 101,378 (8.7)
Available seat miles (millions) 114,890 124,735 (7.9)
Cargo ton miles (millions) 1,185 1,547 (23.4)
Passenger load factor 80.5% 81.3% (0.8) pts
Passenger revenue yield per
passenger mile (cents) 12.15 13.87 (12.4)
Passenger revenue per available
seat mile (cents) 9.78 11.27 (13.2)
Cargo revenue yield per ton
mile (cents) 34.95 43.83 (20.2)
Operating expenses per
available seat mile, excluding
Regional Affiliates (cents) (1) 11.96 14.15 (15.5)
Fuel consumption (gallons, in
millions) 1,890 2,058 (8.1)
Fuel price per gallon (dollars) 1.96 3.16 (38.1)
Regional Affiliates
Revenue passenger miles
(millions) 6,196 6,835 (9.3)
Available seat miles (millions) 8,686 9,685 (10.3)
Passenger load factor 71.3% 70.6% 0.8 pts
(1) Excludes $1.8 billion and $2.4 billion of expense incurred related to
Regional Affiliates in 2009 and 2008, respectively.
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
OPERATING STATISTICS BY REGIONAL ENTITY
American Airlines, Inc. Nine Months Ended September 30, 2009
-------------------------------------------
Entity Results RASM(1) Y-O-Y ASMs(2) Y-O-Y
(cents) Change (billions) Change
--------- ------- ---------- ------
DOT Domestic 9.80 (10.0)% 70.1 (10.2)%
International 9.75 (18.1) 44.8 (4.0)
DOT Latin America 10.65 (15.4) 21.5 (6.4)
DOT Atlantic 8.93 (20.7) 18.3 (2.4)
DOT Pacific 8.87 (20.5) 5.1 1.1
(1) Revenue per Available Seat Mile
(2) Available Seat Miles
American Airlines, Inc. Nine Months Ended September 30, 2009
Entity Results --------------------------------------------
Load Y-O-Y
Factor Change Yield Y-O-Y
(pts) (pts) (cents) Change
---- ---- ------ ------
DOT Domestic 82.9 0.4% 11.83 (10.5)%
International 76.9 (2.4) 12.68 (15.5)
DOT Latin America 75.8 (3.0) 14.06 (12.0)
DOT Atlantic 77.6 (1.4) 11.51 (19.2)
DOT Pacific 78.9 (3.8) 11.24 (16.7)
Current
The address is http://www.aa.com
Editor's Note: A live Webcast reporting third quarter results will be broadcast on the Internet on
SOURCE
Andy Backover, Corporate Communications of AMR Corporation, +1-817-967-1577, mediarelations@aa.com