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UNITED
STATES
SECURITIES
AND
EXCHANGE COMMISSION
Washington,
D. C.
20549
_____________
FORM
8-K/A
CURRENT
REPORT
Pursuant
to Section
13 or 15(d) of the
Securities
Exchange
Act of 1934
Date
of earliest
event
reported: July
1, 2008
AMR
CORPORATION. _
(Exact
name of
registrant as specified in its charter)
Delaware 1-8400 75-1825172 _
(State
of
Incorporation) ( Commission File Number) (IRS
Employer Identification No.)
4333
Amon Carter
Blvd. Fort Worth,
Texas 76155
(Address
of
principal executive offices) (Zip Code)
(817)
963-1234 _
(Registrant's
telephone number)
(Former
name or former address, if changed since last report.)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[
] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
This
amendment to
the current report on Form 8-K filed on June 18, 2008 is being filed to update
the timing and amount of accounting charges related to previously announced
capacity reductions. This amendment contains no changes to the other
information provided in the initial filing.
Item
2.05 Costs Associated with Exit or Disposal
Activities
On
May 21, 2008,
AMR Corporation (the "Company") issued a press release announcing capacity
reductions and related matters as described in the press release. The Company
made its determination to implement these capacity reductions in light of
unprecedented high fuel costs and the other challenges facing the
industry. Further, on June 18, 2008, the Company announced that in
connection with these capacity reductions, the Company anticipated that it
would
record non-cash accounting charges, including aircraft impairments, certain
related long-lived assets, and other disposal and associated costs.
In
conjunction with
these capacity reductions, the Company concluded that the carrying values of
its
McDonnell Douglas MD-80 and the Embraer RJ-135 aircraft fleets are no longer
recoverable. Consequently, during the second quarter of 2008, the Company will
record a non-cash impairment charge of approximately $1.1 to $1.2 billion to
write these and certain related long-lived assets down to their estimated fair
value. No portion of the impairment charge will result in future cash
expenditures.
Also
in conjunction
with the capacity reductions, the Company estimates that it will reduce its
workforce commensurate with previously announced system-wide capacity reductions
by December 2008. As a result of this reduction in workforce, the
Company will record a charge of approximately $75 to $100 million for severance
related costs, a portion of which may be recorded in the third
quarter. All severance related costs represent cash outlays and will
be incurred over a period of up to twelve months.
The
Company expects
to record other accounting charges relating to these capacity reductions, such
as other disposal costs and other associated costs, but cannot at
this time reasonably estimate the amount and timing of these charges or the
portion, if any, of these charges that would result in future cash
expenditures.
Item
2.06 Material Impairments
The
information set
forth in Item 2.05 of this Current Report on Form 8-K is incorporated by
reference into this Item 2.06.
SIGNATURE
Pursuant
to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
AMR
CORPORATION
/s/
Kenneth W. Wimberly
Kenneth
W.
Wimberly
Corporate
Secretary
Dated: July
2, 2008