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AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(as reclassified)
(in millions, except per share amounts)
(Unaudited)
Three Months Ended September 30,
-------------------------------- Percent
2008 2007 Change
------- ------- -------
Revenues
Passenger - American Airlines $4,946 $4,598 7.6
- Regional Affiliates 668 648 3.1
Cargo 230 196 17.3
Other revenues 577 504 14.3
------- ------- -------
Total operating revenues 6,421 5,946 8.0
------- ------- -------
Expenses
Aircraft fuel 2,722 1,743 56.1
Wages, salaries and benefits 1,633 1,721 (5.1)
Other rentals and landing fees 344 328 4.9
Depreciation and amortization 289 307 (5.8)
Maintenance, materials and
repairs 304 274 11.0
Commissions, booking fees and
credit card expense 264 270 (2.2)
Aircraft rentals 122 148 (16.8)
Food service 135 139 (3.2)
Special charges 27 - *
Other operating expenses 797 697 14.3
------- ------- -------
Total operating expenses 6,637 5,627 18.0
------- ------- -------
Operating Income (Loss) (216) 319 *
Other Income (Expense)
Interest income 37 90 (59.0)
Interest expense (190) (227) (16.3)
Interest capitalized 10 3 *
Miscellaneous - net 404 (10) *
------- ------- -------
261 (144) *
------- ------- -------
Income Before Income Taxes 45 175 (74.3)
Income tax - - -
------- ------- -------
Net Income $45 $175 (74.3)
======= ======= =======
Earnings Per Share
Basic $0.17 $0.70
======= =======
Diluted $0.17 $0.61
======= =======
Number of Shares Used in
Computation
Basic 258 249
Diluted 268 300
* Greater than 100%
AMR CORPORATION
OPERATING STATISTICS
(as reclassified)
(Unaudited)
Three Months Ended
September 30,
--------------------- Percent
2008 2007 Change
------- ------- -------
American Airlines, Inc. Mainline Jet
Operations
Revenue passenger miles (millions) 34,491 36,290 (5.0)
Available seat miles (millions) 41,965 43,271 (3.0)
Cargo ton miles (millions) 509 514 (1.0)
Passenger load factor 82.2% 83.9% (1.7) pts
Passenger revenue yield per
passenger mile (cents) 14.34 12.67 13.2
Passenger revenue per available
seat mile (cents) 11.79 10.63 10.9
Cargo revenue yield per ton mile
(cents) 45.16 38.14 18.4
Operating expenses per available
seat mile, excluding Regional
Affiliates (cents) (1) 13.99 11.45 22.2
Fuel consumption (gallons, in
millions) 690 725 (4.9)
Fuel price per gallon (cents) 356.7 216.5 64.8
Regional Affiliates
Revenue passenger miles (millions) 2,293 2,611 (12.2)
Available seat miles (millions) 3,305 3,442 (4.0)
Passenger load factor 69.4% 75.9% (6.5) pts
AMR Corporation
Average Equivalent Number of Employees
American Airlines 71,000 72,000
Other 13,100 13,800
------- -------
Total 84,100 85,800
======= =======
(1) Excludes $798 million and $701 million of expense incurred related to
Regional Affiliates in 2008 and 2007, respectively.
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
OPERATING STATISTICS BY REGIONAL ENTITY
American Airlines, Inc. Three Months Ended September 30, 2008
--------------------------------------------
Entity Results RASM(1) Y-O-Y ASMs(2) Y-O-Y
(cents) Change (billions) Change
------- ------- ---------- -------
DOT Domestic 11.17 7.7% 26.1 (5.0)%
International 12.81 15.7 15.9 0.4
DOT Latin America 13.58 19.7 7.4 1.8
DOT Atlantic 12.20 11.5 6.7 (1.4)
DOT Pacific 11.86 13.8 1.7 1.8
American Airlines, Inc. Three Months Ended September 30, 2008
--------------------------------------------
Entity Results Load Y-O-Y
Factor Change Yield Y-O-Y
(pts) (pts) (cents) Change
------- ------- -------- -------
DOT Domestic 82.8 (2.0)% 13.49 10.3%
International 81.2 (1.1) 15.77 17.2
DOT Latin America 80.9 0.3 16.79 19.3
DOT Atlantic 81.3 (2.1) 14.99 14.3
DOT Pacific 82.0 (2.6) 14.46 17.5
(1) Revenue per Available Seat Mile
(2) Available Seat Miles
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
Three Months Ended
American Airlines, Inc. Mainline Jet Operations September 30,
---------------------
(in millions, except as noted) 2008 2007
------ ------
Total operating expenses $6,670 $5,657
Less: Operating expenses incurred related to
Regional Affiliates 798 701
------ ------
Operating expenses excluding expenses incurred
related to Regional Affiliates $5,872 $4,956
American mainline jet operations available
seat miles 41,965 43,271
------ ------
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.99 11.45
====== ======
Percent change 22.2%
Three Months Ended
American Airlines, Inc. Mainline Jet Operations September 30,
---------------------
(in millions, except as noted) 2008 2007
------ ------
Total operating expenses $6,670 $5,657
Less: Operating expenses incurred related to
Regional Affiliates 798 701
------ ------
Operating expenses excluding expenses incurred
related to Regional Affiliates $5,872 $4,956
American mainline jet operations available
seat miles 41,965 43,271
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.99 11.45
Less: Impact of special items (cents) 0.06 0.09
------ ------
Operating expenses per available seat mile,
excluding Regional Affiliates and impact of
special items (cents) 13.93 11.36
====== ======
Percent change 22.6%
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
Three Months Ended
American Airlines, Inc. Mainline Jet Operations September 30,
---------------------
(in millions, except as noted) 2008 2007
------ ------
Total operating expenses $6,670 $5,657
Less: Operating expenses incurred related to
Regional Affiliates 798 701
------ ------
Operating expenses excluding expenses incurred
related to Regional Affiliates $5,872 $4,956
American mainline jet operations available
seat miles 41,965 43,271
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.99 11.45
Less: Fuel cost per available seat mile (cents) 5.87 3.63
Less: Impact of special items (cents) 0.06 0.09
------ ------
Operating expenses per available seat mile,
excluding Regional Affiliates, impact of
special items, and fuel expense (cents) 8.06 7.73
====== ======
Percent change 4.3%
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) 2008 2007
------- -------
Current and long-term debt $10,415 $11,155
Current and long-term capital lease obligations 711 837
Principal amount of certain airport facility
tax-exempt bonds and the present value of
aircraft operating lease obligations 4,235 4,585
------- -------
15,361 16,577
Less: Unrestricted cash and short-term investments 4,621 5,390
------- -------
Net Debt $10,740 $11,187
======= =======
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)
American Airlines, Inc. Mainline Jet Operations Estimate for
Year Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.88 11.38
Less: Impact of special items (cents) 0.65 0.06
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates and impact of
special items (cents) 13.23 11.32
======= =======
Percent change 16.8%
American Airlines, Inc. Mainline Jet Operations Estimate for
Year Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.88 11.38
Less: Fuel expense per available seat mile (cents) 5.06 3.53
Less: Impact of special items (cents) 0.65 0.06
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates, impact of
special items, and fuel expense (cents) 8.17 7.79
======= =======
Percent change 4.9%
American Airlines, Inc. Mainline Jet Operations Estimate for
Three Months
Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.04 12.01
Less: Impact of special items (cents) 0.15
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates and impact of
special items (cents) 13.04 11.86
======= =======
Percent change 9.9%
American Airlines, Inc. Mainline Jet Operations Estimate for
Three Months
Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 13.04 12.01
Less: Fuel expense per available seat mile (cents) 4.56 3.99
Less: Impact of special items (cents) 0.15
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates, impact of
special items, and fuel expense (cents) 8.48 7.87
======= =======
Percent change 7.7%
AMR Corporation Estimate for
Year Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile (cents) 14.59 11.98
Less: Impact of special items (cents) 0.67 0.05
------- -------
Operating expenses per available seat mile,
excluding impact of special items (cents) 13.92 11.93
======= =======
Percent change 16.6%
AMR Corporation Estimate for
Year Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile (cents) 14.59 11.98
Less: Fuel expense per available seat mile (cents) 5.20 3.64
Less: Impact of special items (cents) 0.67 0.05
------- -------
Operating expenses per available seat mile,
excluding impact of special items and fuel
expense (cents) 8.72 8.29
======= =======
Percent change 5.2%
AMR Corporation Estimate for
Three Months
Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile (cents) 13.69 12.61
Less: Less impact of special items (cents) 0.14
------- -------
Operating expenses per available seat mile,
excluding impact of special items (cents) 13.69 12.47
======= =======
Percent change 9.8%
AMR Corporation Estimate for
Three Months
Ended December 31,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Operating expenses per available seat mile (cents) 13.69 12.61
Less: Fuel expense per available seat mile (cents) 4.67 4.11
Less: Impact of special items (cents) 0.14
------- -------
Operating expenses per available seat mile,
excluding impact of special items and fuel
expense (cents) 9.02 8.36
======= =======
Percent change 7.8%
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
Three Months Ended
AMR Corporation September 30,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Net Income/(Loss) 45 175
Less: Impact of special items (405) 40
------- -------
Net Income/(Loss), excluding impact of special
items (360) 215
======= =======
Earnings/(Loss) Per Share
Basic (1.39) 0.86
Diluted (1.39) 0.74
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
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
Nine Months Ended September 30,
------------------------------- Percent
2008 2007 Change
------- ------- -------
Revenues
Passenger - American Airlines $14,060 $13,299 5.7
- Regional Affiliates 1,932 1,864 3.6
Cargo 678 597 13.6
Other revenues 1,627 1,492 9.0
------- ------- -------
Total operating revenues 18,297 17,252 6.1
------- ------- -------
Expenses
Aircraft fuel 7,195 4,797 50.0
Wages, salaries and benefits 4,935 5,047 (2.2)
Other rentals and landing fees 985 970 1.4
Depreciation and amortization 922 892 3.3
Commissions, booking fees and
credit card expense 780 787 (0.9)
Maintenance, materials and
repairs 943 790 19.3
Aircraft rentals 372 451 (17.4)
Food service 395 399 (1.0)
Special charges 1,191 - *
Other operating expenses 2,272 2,085 9.2
------- ------- -------
Total operating expenses 19,990 16,218 23.3
------- ------- -------
Operating Income (Loss) (1,693) 1,034 *
Other Income (Expense)
Interest income 138 257 (46.4)
Interest expense (569) (703) (19.1)
Interest capitalized 23 17 39.5
Miscellaneous - net 370 (32) *
------- ------- -------
(38) (461) (91.8)
------- ------- -------
Income (Loss) Before Income Taxes (1,731) 573 *
Income tax - - -
------- ------- -------
Net Income (Loss) $(1,731) $573 *
======= ======= =======
Earnings (Loss) Per Share
Basic $(6.84) $2.35
======= =======
Diluted $(6.84) $1.98
======= =======
Number of Shares Used in
Computation
Basic 253 244
Diluted 253 300
* Greater than 100%
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
Nine Months Ended
September 30,
--------------------- Percent
2008 2007 Change
------- ------- -------
American Airlines, Inc. Mainline Jet
Operations
Revenue passenger miles (millions) 101,378 104,534 (3.0)
Available seat miles (millions) 124,735 127,609 (2.3)
Cargo ton miles (millions) 1,547 1,574 (1.7)
Passenger load factor 81.3% 81.9% (0.6) pts
Passenger revenue yield per
passenger mile (cents) 13.87 12.72 9.0
Passenger revenue per available
seat mile (cents) 11.27 10.42 8.2
Cargo revenue yield per ton mile
(cents) 43.83 37.91 15.6
Operating expenses per available
seat mile, excluding Regional
Affiliates (cents) (1) 14.15 11.17 26.6
Fuel consumption (gallons, in
millions) 2,058 2,129 (3.4)
Fuel price per gallon (cents) 315.9 203.0 55.6
Regional Affiliates
Revenue passenger miles (millions) 6,835 7,468 (8.5)
Available seat miles (millions) 9,685 10,096 (4.1)
Passenger load factor 70.6% 74.0% (3.4) pts
(1) Excludes $2.4 billion and $2.1 billion of expense incurred related to
Regional Affiliates in 2008 and 2007, respectively.
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
OPERATING STATISTICS BY REGIONAL ENTITY
American Airlines, Inc. Nine Months Ended September 30, 2008
--------------------------------------------
Entity Results RASM(1) Y-O-Y ASMs(2) Y-O-Y
(cents) Change (billions) Change
------- ------- ---------- -------
DOT Domestic 10.90 5.9% 78.0 (4.1)%
International 11.90 11.7 46.7 0.9
DOT Latin America 12.59 13.8 22.9 2.7
DOT Atlantic 11.26 8.1 18.7 (0.8)
DOT Pacific 11.15 14.5 5.0 (0.5)
(1) Revenue per Available Seat Mile
(2) Available Seat Miles
American Airlines, Inc. Nine Months Ended September 30, 2008
--------------------------------------------
Entity Results Load Y-O-Y
Factor Change Yield Y-O-Y
(pts) (pts) (cents) Change
------- ------- -------- -------
DOT Domestic 82.4 (1.1)% 13.21 7.3%
International 79.3 0.2 15.01 11.4
DOT Latin America 78.8 1.4 15.97 11.7
DOT Atlantic 79.0 (1.0) 14.25 9.4
DOT Pacific 82.7 (0.8) 13.49 15.6
AMR CORPORATION
NON-GAAP AND OTHER RECONCILIATIONS
(Unaudited)
Nine Months Ended
American Airlines, Inc. Mainline Jet Operations September 30,
----------------------
(in millions, except as noted) 2008 2007
------- -------
Total operating expenses $20,070 $16,335
Less: Operating expenses incurred related to
Regional Affiliates 2,423 2,078
------- -------
Operating expenses excluding expenses incurred
related to Regional Affiliates $17,647 $14,257
American mainline jet operations available
seat miles 124,735 127,609
------- -------
Operating expenses per available seat mile,
excluding Regional Affiliates (cents) 14.15 11.17
======= =======
Percent change 26.6%
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