AMR Corporation Reports Third Quarter 2012 Results

October 17, 2012
Net Profit of $110 Million, Excluding Reorganization Items and Special Charges
Net Loss of $238 Million; Operating Income of $51 Million
Continues Fleet Renewal: Took Delivery of Seven Fuel-Efficient 737-800s; Totaling 19 737-800s in the First Nine Months of 2012

FORT WORTH, Texas, Oct. 17, 2012 /PRNewswire/ -- AMR Corporation, the parent company of American Airlines, Inc., today reported a third quarter net profit of $110 million, excluding reorganization items and special charges – a $272 million improvement compared to the prior year period. In the third quarter of 2012, AMR incurred a net loss of $238 million compared to a net loss of $162 million in the same period of 2011.

"I want to thank my American colleagues for their efforts in delivering another profitable quarter, excluding reorganization and special items," said Tom Horton, AMR's Chairman and Chief Executive Officer. "These results were driven by the best unit revenue growth in the industry in each month of the quarter, and by record load factor, as we continue to make progress in our restructuring for a successful future."

Financial and Operational Performance

AMR reported record third quarter consolidated revenue of $6.4 billion, up 0.8 percent compared to the prior year period, on 2.3 percent less capacity than in the third quarter of 2011. Consolidated passenger revenue per available seat mile (unit revenue) grew 4.3 percent compared to the third quarter of 2011, and mainline passenger unit revenue increased 4.5 percent.

  • Consolidated passenger yield, representing average fares paid, increased 3.5 percent year-over-year in the third quarter of 2012, and mainline passenger yield increased 3.7 percent.
  • Mainline capacity, or total available seat miles, in the third quarter of 2012 decreased 2.5 percent compared to the same period in 2011.
  • American's third quarter 2012 mainline load factor, or the percentage of total seats filled, was 85.5 percent – a record for any quarter in American's history.

The company's revenue performance was driven by year-over-year yield improvement and a record high consolidated load factor of 84.7 percent. Domestic unit revenue improved 3.8 percent in the third quarter versus the same period last year and, for the third consecutive quarter, the company saw unit revenue increases across all five of its hubs. Growth in yields on connecting traffic and increased load factors in the premium cabins contributed to the solid revenue performance in the Domestic entity.

International unit revenue increased 5.3 percent in the third quarter, driven by increased load factors across all entities, and improved yield performance. Unit revenue performance in the Pacific entity was strong, up 15.9 percent, driven by increased demand for the premium cabins and greater revenues from Asia point-of-sale. The Latin American entity posted a 4.0 percent unit revenue increase in the third quarter of 2012, including yield improvements in Mexico and Central and South America. The growing strength of American's enhanced network, together with coordinated selling efforts with joint business partners British Airways and Iberia over the Atlantic, helped drive trans-Atlantic unit revenue improvement of 2.9 percent versus the prior year, despite slower sales around the Summer Olympics, and a weaker economic environment in Europe in the quarter.

"Strong yield and record load factors generated unit revenue growth that topped the industry in each of the three months, continuing a trend of outperforming the industry that we've seen throughout the year," said Virasb Vahidi, AMR's Chief Commercial Officer. "We saw unit revenue increases across all five of our hubs and across all international entities."

"We have made excellent progress in both increasing revenues and in reducing costs this quarter. As a result of having consolidated operating expenses, excluding special charges, of $6.2 billion, or 2.7 percent lower than the third quarter of last year, we saw considerable improvement. We were able to achieve operating income and margin of $262 million and 4.1 percent respectively, excluding special charges," said Bella Goren, AMR's Chief Financial Officer. "As our restructuring efforts move forward, we will continue to realize increasingly greater cost savings in the coming quarters, and we are on track to achieve our targeted savings."

Reorganization Items and Special Charges

The third quarter 2012 results include $348 million in special charges and reorganization items.

  • Of that amount, $211 million is related to special charges, primarily associated with employee severance-related costs.
  • The company recognized $137 million in reorganization items resulting from certain of its direct and indirect U.S. subsidiaries' voluntary petitions for reorganization under Chapter 11 on Nov. 29, 2011. These items primarily result from estimated claims associated with restructuring the financing arrangements for certain aircraft and professional fees, offset by a pension curtailment credit for prior service costs.

Fuel Impact

Taking into account the impact of fuel hedging, AMR paid approximately $3.12 per gallon for jet fuel in the third quarter of 2012 versus approximately $3.15 per gallon in the third quarter of 2011, a 1.0 percent decrease. As a result, the company paid $22 million less for fuel in the third quarter of 2012 than it would have paid at prevailing prices from the prior-year period.

Cash Position

AMR ended the third quarter with approximately $5.1 billion in cash and short-term investments, including a restricted cash balance of $847 million, compared to a balance of approximately $4.8 billion in cash and short-term investments, including a restricted balance of approximately $474 million, at the end of the third quarter of 2011.

Recent Operational Challenges

AMR experienced operational challenges due to flight cancellations and delays during the second half of September, however, the net impact of these disruptions to third quarter financial results was not material.

Fleet Renewal and Transformation

In the third quarter, as part of the company's fleet renewal efforts, American took delivery of seven Boeing 737-800s, for a total of 19 737s in the first nine months of the year, with another nine 737s scheduled to be delivered in the fourth quarter of 2012.  These aircraft will improve the customer experience and provide a 35 percent reduction in fuel cost per seat versus MD-80 aircraft.

Furthermore, during the quarter, American announced plans to be the only airline to offer three-class service and the first to offer fully lie-flat First and Business Class seats on transcontinental flights with its Airbus A321 transcontinental aircraft.  All new narrowbodies from the Airbus 320 family delivered beginning in the third quarter of 2013 and the Boeing 737-800 aircraft delivered beginning in the fourth quarter of 2013 are expected to offer in-seat entertainment, inflight Wi-Fi, individual 110-volt universal AC power outlets and USB jacks at every seat, in addition to Main Cabin Extra seating.

American is in the midst of a significant renewal and transformation of its fleet, including 59 aircraft slated for delivery in 2013.  American is taking significant steps to improve its overall competitive position and expects to have the youngest and most fuel-efficient fleet among its U.S. airline peers by 2017.

Capacity Guidance

AMR estimates consolidated capacity in the fourth quarter of 2012 to be up less than half of a percent versus the fourth quarter of 2011. The company is in the process of finalizing the 2013 network plan and will provide additional capacity guidance at a later date.

About American Airlines

American Airlines, American Eagle® and the AmericanConnection® carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,500 daily flights. The combined network fleet numbers nearly 900 aircraft. American's award-winning website, AA.com®, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the oneworld® alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 9,000 daily flights to 150 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc. AMR Corporation common stock trades under the symbol "AAMRQ" on the OTCQB marketplace, operated by OTC Markets Group.

Cautionary Statement Regarding Forward-Looking Statements and Information

This news release could be viewed as containing forward-looking statements or information. Actual results may differ materially from the results suggested by the statements and information contained herein for a number of reasons, including, but not limited to, the impact of the restructuring of the company and certain of its U.S. subsidiaries, the company's ability to refinance, extend or repay its near and intermediate term debt, the company's substantial level of indebtedness and related interest rates, the potential impact of volatile and rising fuel prices, impairments and restructuring charges, and the potential impact of labor unrest. Because of the company's restructuring, there can be no assurance as to the future value of the company's securities, including its common stock, which could have little or no value at the end of the restructuring process. Accordingly, the company urges that caution be exercised with respect to existing and future investments in any of these securities (including the company's common stock) or other claims. Readers are referred to the documents filed by the company with the Securities and Exchange Commission, including the company's Form 10-K for the period ended December 31, 2011, which further identify the important risk factors that could cause actual results to differ materially from the forward-looking statements in this news release. The company disclaims any obligation to update any forward-looking statement or information.

Detailed financial information follows:

           

 

AMR CORPORATION

CONSOLIDATED STATEMENT OF OPERATIONS

(in millions, except per share amounts)

(Unaudited)
           
 

Three Months Ended

September 30,

  

Percent
 

2012

  

2011

  

Change

Revenues

          

    Passenger - American Airlines

$        4,909

  

$        4,816

  

1.9

                      - Regional Affiliates

748

  

735

  

1.8

    Cargo

156

  

176

  

(11.2)

    Other revenues

616

  

649

  

(5.1)

      Total operating revenues

6,429

  

6,376

  

0.8
           

Expenses

          

  Aircraft fuel

2,180

  

2,255

  

(3.3)

  Wages, salaries and benefits

1,783

  

1,776

  

0.4

  Other rentals and landing fees

329

  

363

  

(9.4)

  Maintenance, materials and repairs

347

  

345

  

0.7

  Depreciation and amortization

256

  

273

  

(6.5)

  Commissions, booking fees and credit card expense

277

  

285

  

(2.7)

  Aircraft rentals

137

  

165

  

(16.7)

  Food service

139

  

137

  

1.6

  Special charges

211

  

-

  

*

  Other operating expenses

719

  

738

  

(2.6)

    Total operating expenses

6,378

  

6,337

  

0.6
           

Operating Income (Loss)

51

  

39

  

28.4
           

Other Income (Expense)

          

  Interest income

7

  

6

  

6.7

  Interest expense

(161)

  

(211)

  

(23.8)

  Interest capitalized

13

  

11

  

15.0

  Miscellaneous – net

(11)

  

(7)

  

57.1

    Total other income

(152)

  

(201)

  

(24.4)
           

Income (Loss) Before Reorganization Items, Net

(101)

  

(162)

  

(37.5)

Reorganization Items, Net

(137)

  

-

  

*

Income Before Income Taxes

(238)

  

(162)

  

46.8

Income tax

-

  

-

  

-

Net Income

$          (238)

  

$          (162)

  

46.8
           

Earnings Per Share

          

Basic

$         (0.71)

  

$         (0.48)

    

Diluted

$         (0.71)

  

$         (0.48)

    
           

Number of Shares Used in Computation

          

  Basic

335

  

335

    

  Diluted

335

  

335

    
               

* Greater than 100%

              

 

   

AMR CORPORATION

OPERATING STATISTICS

(Unaudited)

 

OPERATING STATISTICS BY REGIONAL ENTITY

   

American Airlines, Inc.

Three Months Ended September 30, 2012

Entity Results

  

RASM1

  

Y-O-Y

  

ASMs2

  

Y-O-Y
   

(cents)

  

Change

  

(billions)

  

Change
                 

DOT Domestic

  

12.20

  

3.8%

  

22.7

  

(3.3%)

International

  

13.16

  

5.3%

  

16.3

  

(1.3%)

     DOT Latin America

  

14.68

  

4.0%

  

7.4

  

1.8%

     DOT Atlantic

  

12.01

  

2.9%

  

6.5

  

(3.1%)

     DOT Pacific

  

11.55

  

15.9%

  

2.3

  

(5.7%)
                 

American Airlines, Inc.

Three Months Ended September 30, 2012

Entity Results

  

Load Factor

  

Y-O-Y

  

Yield

  

Y-O-Y
   

(pts)

  

Change (pts)

  

(cents)

  

Change
                 

DOT Domestic

  

85.4

  

(0.1)

  

14.28

  

4.0%

International

  

85.5

  

1.7

  

15.39

  

3.3%

     DOT Latin America

  

84.2

  

1.2

  

17.43

  

2.5%

     DOT Atlantic

  

87.4

  

1.3

  

13.74

  

1.3%

     DOT Pacific

  

84.5

  

4.1

  

13.68

  

10.4%
                 

1

Revenue per Available Seat Mile

2

Available Seat Miles
             

AMR CORPORATION

NON-GAAP AND OTHER RECONCILIATIONS

(in millions)

(Unaudited)
             
 

Three Months Ended

September 30,

    

Percent
 

2012

  

2011

  

Change
           

Net Income

$          (238)

  

$          (162)

  

46.8

Special Charges

211

  

-

  

*

Reorganization Items

137

  

-

  

*

Net Income Excluding Reorganization and Special Items

110

  

(162)

  

*
           

* Greater than 100%

          
               
           

AMR CORPORATION

OPERATING STATISTICS

(Unaudited)
 

Three Months Ended

September 30,

    

Percent

Change
 

2012

    

2011

    

American Airlines, Inc. Mainline Jet Operations

               

Revenue passenger miles (millions)

33,302

    

33,898

    

(1.8)

  

Available seat miles (millions)

38,955

    

39,936

    

(2.5)

  

Cargo ton miles (millions)

425

    

444

    

(4.4)

  

Passenger load factor

85.5%

    

84.9%

    

0.6

pts

Passenger revenue yield per passenger mile (cents)

14.74

    

14.21

    

3.7

  

Passenger revenue per available seat mile (cents)

12.60

    

12.06

    

4.5

  

Cargo revenue yield per ton mile (cents)

36.71

    

39.54

    

(7.2)

  

Operating expenses per available seat mile, excluding Regional Affiliates (cents) (1)

14.45

    

13.93

    

3.8

  

Fuel consumption (gallons, in millions)

618

    

635

    

(2.5)

  

Fuel price per gallon (dollars)

3.11

    

3.15

    

(1.4)

  
                 

Regional Affiliates

                

Revenue passenger miles (millions)

2,649

    

2,634

    

0.6

  

Available seat miles (millions)

3,468

    

3,497

    

(0.8)

  

Passenger load factor

76.4%

    

75.3%

    

1.1

pts
                 

AMR Corporation

                

Average Equivalent Number of Employees

                

American Airlines

64,900

    

67,100

        

Other

13,000

    

13,700

        

Total

77,900

    

80,800

        
                 
                   
 

(1)

Excludes $764 million and $800 million of expense incurred related to Regional Affiliates in 2012 and 2011, respectively.
   

AMR CORPORATION

NON-GAAP AND OTHER RECONCILIATIONS

(Unaudited)
   

American Airlines, Inc. Mainline Jet Operations

Three Months Ended

September 30,

(in millions, except as noted)

2012

    

2011

Operating expenses per available seat mile,

  excluding Regional Affiliates (cents)

        

14.45

    

13.93

Less: Fuel expense per available seat mile (cents)

5.59

    

5.01

Operating expenses per available seat mile, excluding

  Regional Affiliates and fuel expenses (cents)

 

8.86

    

 

8.92
           

Percent change

(0.7)%

      
           

American Airlines, Inc. Mainline Jet Operations

Three Months Ended

September 30,

(in millions, except as noted)

2012

    

2011
           

Total operating expenses

$          6,395

    

$          6,361

Less: Operating expenses incurred

  related to Regional Affiliates

764

    

800

Operating expenses excluding expenses

  incurred related to Regional Affiliates

$          5,631

    

$          5,561

American mainline jet operations available seat miles

38,955

    

39,936

Operating expenses per available seat mile, excluding

  Regional Affiliates (cents)

14.45

    

13.93
           

Percent change

3.8%

      
           

Less: Impact of reorganization and special Items (cents)

0.54

    

-

Operating expenses per available seat mile, excluding Regional

       
 

Affiliates and impact of reorganization and

  special items (cents)

13.91

    

13.93
           

Percent change

(0.1)%

      
           

Less: Fuel cost per available seat mile (cents)

4.93

    

5.01

Operating expenses per available seat mile, excluding

  Regional Affiliates,  impact of reorganization and special

  items, and fuel expenses (cents)

8.98

    

8.92
           

Percent change

0.7%

      
           

Note: The Company believes that operating expenses per available seat mile, excluding the cost of fuel, reorganization items 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 Consolidated

 

Three Months Ended

September 30,

(in millions, except as noted)

2012

    

2011
           

Total operating expenses

$        6,378

    

$        6,337

Available seat miles

42,423

    

43,432

Operating expenses per available seat mile (cents)

15.03

    

14.59

Less: Impact of reorganization and special Items (cents)

0.49

    

-
           

Operating expenses per available seat mile, excluding

     impact of reorganization and special items (cents)

 

14.54

    

 

14.59
           

Percent change

(0.4)%

      
           

Less: Fuel expense per available seat mile (cents)

5.14

    

5.19

Operating expenses per available seat mile, excluding impact

  of reorganization and special items and fuel expense (cents)

9.40

    

9.40
           

Percent change

(0.0)%

      
             
       

AMR CORPORATION

CONSOLIDATED STATEMENT OF OPERATIONS

(in millions, except per share amounts)

(Unaudited)
       
 

Nine Months Ended

September 30,

  

Percent
 

2012

  

2011

  

Change

Revenues

          

    Passenger - American Airlines

$      14,303

  

$      13,508

  

5.9

                      - Regional Affiliates

2,208

  

2,023

  

9.1

    Cargo

499

  

532

  

(6.2)

    Other revenues

1,908

  

1,960

  

(2.7)

      Total operating revenues

18,918

  

18,023

  

5.0
           

Expenses

          

  Aircraft fuel

6,555

  

6,299

  

4.1

  Wages, salaries and benefits

5,342

  

5,262

  

1.5

  Other rentals and landing fees

990

  

1,070

  

(7.5)

  Maintenance, materials and repairs

1,047

  

983

  

6.4

  Depreciation and amortization

777

  

815

  

(4.8)

  Commissions, booking fees and credit card expense

806

  

809

  

(0.4)

  Aircraft rentals

410

  

483

  

(15.2)

  Food service

394

  

390

  

1.0

  Special charges

329

  

-

  

*

  Other operating expenses

2,164

  

2,182

  

(0.8)

    Total operating expenses

18,814

  

18,293

  

2.8
           

Operating Income (Loss)

104

  

(270)

  

*
           

Other Income (Expense)

          

  Interest income

20

  

20

  

(2.7)

  Interest expense

(503)

  

(626)

  

(19.7)

  Interest capitalized

36

  

28

  

31.2

  Miscellaneous – net

(29)

  

(36)

  

(19.4)

    Total other income

(476)

  

(614)

  

(22.5)
           

Income (Loss) Before Reorganization Items, Net

(372)

  

(884)

  

(57.9)

Reorganization Items, Net

(1,767)

  

-

  

*

Income Before Income Taxes

(2,139)

  

(884)

  

*

Income tax

-

  

-

  

-

Net Income

$       (2,139)

  

$          (884)

  

*
           

Earnings Per Share

          

Basic

$         (6.38)

  

$         (2.64)

    

Diluted

$         (6.38)

  

$         (2.64)

    
           

Number of Shares Used in Computation

          

  Basic

335

  

334

    

  Diluted

335

  

334

    
           

* Greater than 100%

          

 

   

AMR CORPORATION

OPERATING STATISTICS

(Unaudited)

 

OPERATING STATISTICS BY REGIONAL ENTITY
   

American Airlines, Inc.

Nine Months Ended September 30, 2012

Entity Results

  

RASM1

  

Y-O-Y

  

ASMs2

  

Y-O-Y
   

(cents)

  

Change

  

(billions)

  

Change
                 

DOT Domestic

  

12.30

  

7.3%

  

67.9

  

(2.2%)

International

  

12.59

  

8.0%

  

47.3

  

(0.6%)

     DOT Latin America

  

14.10

  

7.2%

  

23.2

  

2.8%

     DOT Atlantic

  

11.36

  

6.5%

  

17.2

  

(5.8%)

     DOT Pacific

  

10.58

  

13.3%

  

6.9

  

2.0%
                 

American Airlines, Inc.

Nine Months Ended September 30, 2012

Entity Results

  

Load Factor

  

Y-O-Y

  

Yield

  

Y-O-Y
   

(pts)

  

Change (pts)

  

(cents)

  

Change
                 

DOT Domestic

  

84.0

  

0.8

  

14.65

  

6.3%

International

  

82.1

  

2.1

  

15.33

  

5.3%

     DOT Latin America

  

81.3

  

0.3

  

17.35

  

6.8%

     DOT Atlantic

  

83.1

  

3.2

  

13.67

  

2.4%

     DOT Pacific

  

82.8

  

5.0

  

12.78

  

6.4%
   

1

Revenue per Available Seat Mile

2

Available Seat Miles
       

AMR CORPORATION

NON-GAAP AND OTHER RECONCILIATIONS

(in millions)

(Unaudited)
       
 

Nine Months Ended

September 30,

  

Percent
 

2012

  

2011

  

Change
           

Net Income

$       (2,139)

  

$      (884)

  

*

Special Charges

329

  

-

  

*

Reorganization Items

1,767

  

-

  

*

Net Income Excluding Reorganization and Special Items

(43)

  

(884)

  

(95.2)
           

* Greater than 100%

          
     

AMR CORPORATION

OPERATING STATISTICS

(Unaudited)
     
 

Nine Months Ended

September 30,

Percent Change
 

2012

    

2011

    

American Airlines, Inc. Mainline Jet Operations

               

Revenue passenger miles (millions)

95,849

    

95,851

    

0.0

  

Available seat miles (millions)

115,162

    

117,013

    

(1.6)

  

Cargo ton miles (millions)

1,325

    

1,342

    

(1.2)

  

Passenger load factor

83.2%

    

81.9%

    

1.3

pts

Passenger revenue yield per passenger mile (cents)

14.92

    

14.09

    

5.9

  

Passenger revenue per available seat mile (cents)

12.42

    

11.54

    

7.6

  

Cargo revenue yield per ton mile (cents)

37.63

    

39.62

    

(5.0)

  

Operating expenses per available seat mile, excluding Regional Affiliates (cents) (1)

14.41

    

13.73

    

4.9

  

Fuel consumption (gallons, in millions)

1,815

    

1,858

    

(2.3)

  

Fuel price per gallon (gallons)

3.19

    

3.01

    

6.1

  
                 

Regional Affiliates

                

Revenue passenger miles (millions)

7,703

    

7,354

    

4.8

  

Available seat miles (millions)

10,248

    

10,064

    

1.8

  

Passenger load factor

75.2%

    

73.1%

    

2.1

pts
                 

AMR Corporation

                

Average Equivalent Number of Employees

                

American Airlines

65,300

    

66,550

        

Other

13,000

    

13,600

        

Total

78,300

    

80,150

        
 

(1)

Excludes $2.3 billion and $2.3 billion of expense incurred related to Regional Affiliates in 2012 and 2011, respectively.
   

AMR CORPORATION

NON-GAAP AND OTHER RECONCILIATIONS

(Unaudited)
   

AMR Corporation Consolidated

Nine Months Ended

September 30,

(in millions, except as noted)

2012

    

2011
           

Total operating expenses

$      18,814

    

$      18,293

Available seat miles

125,410

    

127,078

Operating expenses per available seat mile (cents)

15.00

    

14.40

Less: Impact of reorganization and special Items (cents)

0.26

    

0.03
           

Operating expenses per available seat mile, excluding

  impact of reorganization and special items (cents)

14.74

    

 

14.37
           

Percent change

2.6%

      
           

Less: Fuel expense per available seat mile (cents)

5.23

    

4.96

Operating expenses per available seat mile, excluding impact

  of reorganization and special items and fuel expense (cents)

 

 

9.51

    

 

9.41
           

Percent change

1.1%

      
   
   
   
   

American Airlines, Inc. Mainline Jet Operations

Nine Months Ended

September 30,

(in millions, except as noted)

2012

    

2011
           

Total operating expenses

$      18,853

    

$      18,379

Less: Operating expenses incurred related to Regional Affiliates

2,262

    

2,314

Operating expenses excluding expenses incurred related to

  Regional Affiliates

$      16,591

    

$      16,065

American mainline jet operations available seat miles

115,162

    

117,013

Operating expenses per available seat mile, excluding Regional

  Affiliates (cents)

14.41

    

13.73
           

Percent change

4.9%

      
           

Less: Impact of reorganization and special Items (cents)

0.29

    

0.03

Operating expenses per available seat mile, excluding Regional

       
 

Affiliates and impact of reorganization and special items (cents)

14.12

    

13.70
           

Percent change

3.1%

      
           

Less: Fuel cost per available seat mile (cents)

5.03

    

4.77

Operating expenses per available seat mile, excluding

  Regional Affiliates, impact of reorganization and special items,

  and fuel expenses (cents)

 

9.09

    

 

8.93
           

Percent change

1.9%

      
 

Note: The Company believes that operating expenses per available seat mile, excluding the cost of fuel, reorganization items and special items, assists investors in understanding the impact of fuel prices and special items on the Company's operations.

Current AMR Corp. news releases can be accessed at http://www.aa.com

SOURCE AMR Corporation

Sean Collins, Media Relations, Fort Worth, Texas, +1-817-967-1577, mediarelations@aa.com