AMR Corporation Reports a Second Quarter 2009 Net Loss of $390 Million as Ongoing Weakness in Economy Hurt Demand and Revenue
EXCLUDING SPECIAL ITEMS, SECOND QUARTER LOSS WAS$319 MILLION , WHICH COMPARES TO A LOSS OF$298 MILLION IN SECOND QUARTER 2008
H1N1 REVENUE IMPACT ESTIMATED AT
DESPITE CHALLENGES, COMPANY CONTINUES ITS FOCUS ON IMPROVEMENTS IN AREAS
WITHIN ITS CONTROL:
-- Added
-- Announced plans to take eight additional
replacement, increasing 737 deliveries to 84 for 2009 through 2011
-- Completed
committed financing expected to cover all firm 737 orders through 2011
-- Increased planned 2009 capacity reductions to 7.5 percent versus 2008
-- Continued to improve customer dependability metrics
The current quarter results compare to a net loss of
"The challenges for our industry and company have continued throughout
2009," said AMR Chairman and CEO
Among accomplishments during the second quarter of 2009 and to date, the
Company obtained
Taking into account the recently completed
In addition, the Company recently entered into an amended agreement with
one of its credit card processors that limits the amount of the reserve the
processor can hold back from American's credit card receivables through the
end of 2009. The Company estimates the maximum hold-back reserve to be
approximately
Continuing its capacity discipline, in
Arpey reiterated expectations that American and four of its fellow
oneworld members -
Arpey added, "In spite of these very challenging times, we continue to see improvements in our dependability and customer experience metrics, thanks in large part to the hard work and commitment of our employees."
Financial and Operational Performance (Excluding Impact of Special Items)
AMR reported second 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
7.4 percent to
American's mainline passenger revenue per available seat mile (unit revenue) declined by 16 percent in the second quarter compared to the year-ago quarter.
Mainline capacity, or total available seat miles, in the second quarter decreased by 7.6 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 81.8 percent during the second quarter, compared to 82.5 percent in the second quarter of 2008. American's second quarter yield, which represents average fares paid, decreased by 15.4 percent compared to the second 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 second
quarter decreased by 12.8 percent year over year, largely due to lower fuel
prices. Taking into account the impact of fuel hedging, AMR paid
Excluding fuel, mainline unit costs in the second quarter of 2009 increased by 5 percent year over year, driven by costs related to reduced capacity, pension expenses, and investments in dependability initiatives.
Balance Sheet Update
Including the proceeds from the sale-leaseback transaction of
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
Following the Company's sale-leaseback transaction in the second quarter,
long-term debt payments, and the completion of the
Second Quarter and Recent Highlights
-- American launched a new route between Dallas/Fort Worth International
Airport and Madrid, Spain , in May, the 34th international destination
served by American and American Eagle from its Dallas/Fort Worth hub,
depending on the season. In July, American announced a codesharing
agreement with Etihad Airways , the national airline of the United Arab
Emirates , and a reciprocal frequent flyer agreement with GOL Airlines
of Brazil , with plans to enter into a codesharing agreement with GOL
in the future.
-- American offered customers more options, flexibility, and
opportunities to customize award travel with the AAdvantage One-Way
Flex Awards feature. The enhancement means AAdvantage miles can be
used in a variety of award combinations to book a one-way, roundtrip
or a multi-city trip. New One-Way Flex Awards are offered at a one-way
mileage rate, allowing customers to: use a MileSAAver award for the
outbound and an AAnytime (available for any seat on any day) for the
return; use a First Class award for the outbound and an Economy Class
award on the return; or go one way, with a One-Way Flex Award that
starts at just 12,500 miles for travel within the continental U.S.
-- American and Operation Iraqi Children (OIC), in cooperation with the
U.S. Department of Defense , delivered 10,000 kits of donated school
supplies and more than 6,000 pairs of Crocs (TM) shoes - provided by
the humanitarian shoe-donation effort Crocs' SolesUnited(SM) - to
children in need in Iraq .
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 more than 4 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.
As a result, as announced in
AMR expects mainline capacity in the third quarter of 2009 to decrease by approximately 8.5 percent compared to the third quarter of 2008, with domestic capacity expected to decline by approximately 10.5 percent and international capacity expected to decline by approximately 6 percent compared to third quarter 2008 levels. AMR expects consolidated capacity in the third quarter of 2009 to decrease by approximately 9 percent compared to the third quarter of 2008.
AMR expects regional affiliate capacity to decline by approximately 11.5 percent in the third quarter of 2009 compared to the prior-year period and expects full-year regional affiliate capacity to decline by approximately 8.5 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 Unit Costs (Excluding impact of special items)
For the third quarter of 2009, mainline unit costs are expected to decrease by 14 percent compared to the third quarter of 2008, while third quarter consolidated unit costs are expected to decrease by 13.9 percent compared to the third quarter of 2008.
In the third quarter of 2009, mainline unit costs excluding fuel are expected to increase 7.2 percent year over year while consolidated unit costs excluding fuel are expected to increase 6 percent compared to the third quarter of 2008.
Full-year mainline unit costs are expected to decrease 9.2 percent in 2009 compared to 2008, while full-year consolidated unit costs are expected to decrease 9.4 percent in 2009 compared to 2008.
AMR expects mainline unit costs excluding fuel to be 6.6 percent higher in 2009 versus 2008, while 2009 consolidated unit costs excluding fuel are expected to increase 5.4 percent year over year.
Reasons for the expected unit cost increase include higher pension expenses, materials and repairs inflation, dependability initiatives, and cost pressure related to capacity reductions. This was offset somewhat by lower passenger and cargo costs from reduced demand and other savings efforts, such as reduced consulting expenses, an external hiring freeze, and a pay freeze for non-contract employees.
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 document, 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 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. This document 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 existing financial or other
covenants in certain of its credit 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 June 30,
--------------------------- Percent
2009 2008 Change
---- ---- ------
Revenues
Passenger - American
Airlines $3,677 $4,735 (22.3)
- Regional
Affiliates 513 683 (25.0)
Cargo 134 233 (42.6)
Other revenues 565 528 7.4
--- --- ---
Total operating revenues 4,889 6,179 (20.9)
----- ----- -----
Expenses
Wages, salaries and
benefits 1,698 1,658 2.4
Aircraft fuel 1,334 2,423 (44.9)
Other rentals
and landing fees 338 318 6.4
Depreciation and
amortization 282 324 (13.2)
Maintenance, materials
and repairs 314 323 (2.5)
Commissions, booking fees
and credit card expense 207 259 (19.9)
Aircraft rentals 126 125 1.1
Food service 123 133 (8.3)
Special charges 23 1,164 (98.1)
Other operating expenses 670 742 (9.4)
---- ---- ----
Total operating expenses 5,115 7,469 (31.5)
----- ----- -----
Operating Income (226) (1,290) (82.5)
Other Income (Expense)
Interest income 9 48 (81.9)
Interest expense (167) (199) (16.2)
Interest capitalized 10 8 33.3
Miscellaneous - net (16) (28) (44.8)
----- ----- -----
(164) (171) (4.7)
----- ----- -----
Income/(Loss) Before Income
Taxes (390) (1,461) (73.3)
Income tax - - -
----- ------- -----
Net Income $(390) $(1,461) (73.3)
===== ======= =====
Earnings/(Loss) Per Share
Basic $(1.39) $(5.83)
====== ======
Diluted $(1.39) $(5.83)
====== ======
Number of Shares Used
in Computation
Basic 280 251
Diluted 280 251
AMR CORPORATION
OPERATING STATISTICS
(as reclassified)
(Unaudited)
Three Months Ended
June 30,
-------- Percent
2009 2008 Change
---- ---- ------
American Airlines, Inc.
Mainline Jet Operations
Revenue passenger miles
(millions) 31,564 34,399 (8.2)
Available seat miles
(millions) 38,566 41,718 (7.6)
Cargo ton miles (millions) 399 533 (25.1)
Passenger load factor 81.8% 82.5% (0.6) pts
Passenger revenue yield per
passenger mile (cents) 11.65 13.76 (15.4)
Passenger revenue per
available seat mile (cents) 9.53 11.35 (16.0)
Cargo revenue yield per ton
mile (cents) 33.53 43.74 (23.4)
Operating expenses per
available seat mile,
excluding Regional
Affiliates (cents) (1) 11.76 15.80 (25.5)
Fuel consumption (gallons,
in millions) 638 688 (7.2)
Fuel price per gallon
(cents) 188.9 317.3 (40.5)
Regional Affiliates
Revenue passenger miles
(millions) 2,182 2,400 (9.1)
Available seat miles
(millions) 2,921 3,274 (10.8)
Passenger load factor 74.7% 73.3% 1.4 pts
AMR Corporation
Average Equivalent Number of
Employees
American Airlines 66,900 72,200
Other 12,300 13,500
------ ------
Total 79,200 85,700
====== ======
(1) Excludes $608 million and $904 million of expense incurred related to
Regional Affiliates in 2009 and 2008, respectively.
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
OPERATING STATISTICS BY REGIONAL ENTITY
Three Months Ended June 30, 2009
--------------------------------
American Airlines, Inc. RASM(1) Y-O-Y ASMs(2) Y-O-Y
Entity Results (cents) Change (billions) Change
--------- ------ ---------- ------
DOT Domestic 9.79 (11.6)% 23.4 (10.4)%
International 9.14 (22.6) 15.2 (2.7)
DOT Latin America 9.58 (20.2) 7.0 (5.7)
DOT Atlantic 8.85 (24.0) 6.4 (0.3)
DOT Pacific 8.43 (26.9) 1.7 1.3
Three Months Ended June 30, 2009
--------------------------------
Load Y-O-Y
American Airlines, Inc. Factor Change Yield Y-O-Y
Entity Results (pts) (pts) (cents) Change
---- ---- ------ ------
DOT Domestic 84.9 0.5 11.53 (12.1)
International 77.1 (2.0) 11.85 (20.5)
DOT Latin America 73.1 (3.2) 13.11 (16.7)
DOT Atlantic 80.7 (0.5) 10.97 (23.5)
DOT Pacific 80.3 (3.8) 10.50 (23.4)
(1) Revenue per Available Seat Mile
(2) Available Seat Miles
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
American Airlines, Inc. Mainline Three Months Ended June 30,
Jet Operations ---------------------------
(in millions, except as noted) 2009 2008
---- ----
Total operating expenses $5,144 $7,494
Less: Operating expenses incurred
related to Regional Affiliates 608 904
----- -----
Operating expenses excluding
expenses incurred related to
Regional Affiliates 4,537 $6,590
American mainline jet operations
available seat miles 38,566 41,718
------ ------
Operating expenses per available
seat mile, excluding Regional
Affiliates (cents) 11.76 15.80
===== =====
Percent change (25.5)%
American Airlines, Inc. Mainline Three Months Ended June 30,
Jet Operations ---------------------------
(in millions, except as noted) 2009 2008
---- ----
Total operating expenses $5,144 $7,494
Less: Operating expenses incurred
related to Regional Affiliates 608 904
----- -----
Operating expenses excluding
expenses incurred related to
Regional Affiliates $4,537 $6,590
American mainline jet operations
available seat miles 38,566 41,718
------ ------
Operating expenses per available
seat mile, excluding Regional
Affiliates (cents) 11.76 15.80
Less: Impact of special items 0.18 2.51
---- ----
Operating expenses per available
seat mile, excluding impact of
special items (cents) 11.58 13.29
===== =====
Percent change (12.8)%
Less: Fuel cost per available seat
mile (cents) 3.12 5.23
---- ----
Operating expenses per available
seat mile, excluding impact of
special items and the cost of fuel
(cents) 8.46 8.06
==== ====
Percent change 5.0%
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 As of June 30,
Calculation of Net Debt -------------
(in millions, except as noted) 2009 2008
---- ----
Current and long-term debt $9,416 $10,133
Current and long-term capital lease
obligations 676 756
Principal amount of certain airport
facility tax-exempt bonds and the
present value of aircraft operating lease
obligations 4,082 4,295
----- -----
14,174 15,184
Less: Unrestricted cash and short-term
investments 2,808 5,069
----- -----
Net Debt $11,366 $10,115
======= =======
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.
Three Months Ended June 30,
AMR Corporation ---------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile 12.33 16.60
Less: Impact of special items 0.17 2.59
---- ----
Operating expenses per available seat mile 12.16 14.01
===== =====
Percent change (13.2)%
Less: Fuel cost per available seat mile
(cents) 3.22 5.39
---- ----
Operating expenses per available seat mile,
excluding impact of special items and the
cost of fuel (cents) 8.94 8.62
==== ====
Percent change 3.7%
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
Estimate for
American Airlines, Inc. Mainline Three Months Ended September 30,
Jet Operations --------------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates
(cents) 12.14 13.99
Less: Impact of special items (cents) 0.16 0.06
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates and
impact of special items (cents) 11.98 13.93
===== =====
Percent change (14.0)%
Less: Fuel expense per available seat
mile (cents) 3.34 5.87
---- ----
Operating expenses per available seat
mile, excluding Regional Affiliates,
impact of special items and fuel expense
(cents) 8.64 8.06
==== ====
Percent change 7.2%
Estimate for
American Airlines, Inc. Mainline Year Ended December 31,
Jet Operations -----------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 11.99 13.87
Less: Impact of special items (cents) 0.06 0.73
---- ----
Operating expenses per available seat mile,
excluding Regional Affiliates and impact of
special items (cents) 11.93 13.14
===== =====
Percent change (9.2)%
Less: Fuel expense per available seat mile
(cents) 3.24 4.99
---- ----
Operating expenses per available seat mile,
excluding Regional Affiliates, impact of
special items and fuel expense (cents) 8.69 8.15
==== ====
Percent change 6.6%
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
Estimate for
Year Ended December 31,
AMR Corporation -----------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile
(cents) 12.57 14.57
Less: Impact of special items (cents) 0.06 0.75
---- ----
Operating expenses per available seat mile,
excluding impact of special items (cents) 12.51 13.82
===== =====
Percent change (9.4)%
Less: Fuel expense per available seat mile
(cents) 3.34 5.12
---- ----
Operating expenses per available seat mile,
excluding impact of special items and fuel
expense (cents) 9.17 8.70
==== ====
Percent change 5.4%
Estimate for
Three Months Ended September 30,
AMR Corporation -------------------------------
(in millions, except as noted) 2009 2008
---- ----
Operating expenses per available seat mile
(cents) 12.71 14.66
Less: Impact of special items (cents) 0.14 0.06
---- ----
Operating expenses per available seat mile,
excluding impact of special items (cents) 12.57 14.60
===== =====
Percent change (13.9)%
Less: Fuel expense per available seat mile
(cents) 3.46 6.01
---- ----
Operating expenses per available seat mile,
excluding impact of special items and fuel
expense (cents) 9.11 8.59
==== ====
Percent change 6.0%
Three Months Ended June 30,
AMR Corporation ---------------------------
(in millions, except as noted) 2009 2008
---- ----
Net Income/(Loss) (390) (1,461)
Less: Impact of special items (70) (1,164)
------ ------
Net Income/(Loss), excluding impact of
special items (319) (298)
==== ====
Earnings/(Loss) Per Share
Basic (1.14) (1.19)
Diluted (1.14) (1.19)
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
Six Months Ended June 30,
------------------------- Percent
2009 2008 Change
---- ---- ------
Revenues
Passenger - American
Airlines $7,357 $9,114 (19.3)
- Regional
Affiliates 970 1,264 (23.3)
Cargo 278 448 (37.9)
Other revenues 1,123 1,050 7.0
----- ----- -----
Total operating revenues 9,728 11,876 (18.1)
----- ------ -----
Expenses
Wages, salaries and benefits 3,386 3,302 2.5
Aircraft fuel 2,632 4,473 (41.2)
Other rentals and landing fees 662 641 3.3
Depreciation and amortization 554 633 (12.5)
Maintenance, materials and
repairs 619 638 (3.0)
Commissions, booking fees and
credit card expense 424 516 (17.7)
Aircraft rentals 250 250 -
Food service 237 260 (9.1)
Special charges 36 1,164 (96.9)
Other operating expenses 1,348 1,476 (8.5)
----- ----- -----
Total operating expenses 10,148 13,353 (24.0)
------ ------ -----
Operating Income (420) (1,477) (71.6)
Other Income (Expense)
Interest income 20 101 (80.5)
Interest expense (353) (405) (12.9)
Interest capitalized 20 13 56.9
Miscellaneous - net (32) (34) (5.9)
---- ---- ----
(345) (325) 6.2
----- ----- -----
Income Before Income Taxes (765) (1,802) (57.6)
Income tax - - -
------ ------ ------
Net Income $(765) $(1,802) (57.6)
===== ======= =====
Earnings Per Share
Basic $(2.74) $(7.21)
====== ======
Diluted $(2.74) $(7.21)
====== ======
Number of Shares Used in
Computation
Basic 279 250
Diluted 279 250
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
Six Months Ended
June 30,
-------- Percent
2009 2008 Change
---- ---- ------
American Airlines, Inc. Mainline Jet
Operations
Revenue passenger miles (millions) 60,158 66,887 (10.1)
Available seat miles (millions) 76,348 82,770 (7.8)
Cargo ton miles (millions) 770 1,038 (25.8)
Passenger load factor 78.8% 80.8% (2.0) pts
Passenger revenue yield per
passenger mile (cents) 12.23 13.63 (10.3)
Passenger revenue per available seat
mile (cents) 9.64 11.01 (12.5)
Cargo revenue yield per ton mile
(cents) 36.12 43.17 (16.3)
Operating expenses per available seat
mile, excluding Regional Affiliates
(cents) (1) 11.79 14.23 (17.1)
Fuel consumption (gallons, in
millions) 1,255 1,368 (8.3)
Fuel price per gallon (cents) 190.0 295.4 (35.7)
Regional Affiliates
Revenue passenger miles (millions) 4,043 4,542 (11.0)
Available seat miles (millions) 5,739 6,380 (10.0)
Passenger load factor 70.4% 71.2% (0.7) pts
(1) Excludes $1.2 billion and $1.6 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
Six Months Ended June 30, 2009
------------------------------
American Airlines, Inc. RASM(1) Y-O-Y ASMs(2) Y-O-Y
Entity Results (cents) Change (billions) Change
--------- ------ ---------- ------
DOT Domestic 9.74 (9.5)% 46.5 (10.6)%
International 9.48 (17.1) 29.9 (3.0)
DOT Latin America 10.45 (13.7) 14.7 (5.1)
DOT Atlantic 8.45 (21.3) 11.7 (1.9)
DOT Pacific 8.85 (17.9) 3.4 2.7
(1) Revenue per Available Seat Mile
(2) Available Seat Miles
Six Months Ended June 30, 2009
------------------------------
Load Y-O-Y
American Airlines, Inc. Factor Change Yield Y-O-Y
Entity Results (pts) (pts) (cents) Change
---- ---- ------ ------
DOT Domestic 81.7 (0.6) 11.92 (8.8)
International 74.3 (4.0) 12.75 (12.6)
DOT Latin America 73.1 (4.7) 14.29 (8.2)
DOT Atlantic 74.8 (2.9) 11.29 (18.2)
DOT Pacific 78.2 (4.8) 11.31 (12.9)
Current AMR Corp. releases can be accessed on the Internet.
The address is http://www.aa.com
SOURCE
NOTE TO EDITORS:
A live Webcast reporting second quarter results will be
broadcast on the Internet on
CONTACT:
Andy Backover
+1-817-967-1577
mediarelations@aa.com