American Airlines Continues Fleet Renewal
American Airlines, Inc., a wholly owned subsidiary of AMR Corp., today said it has accelerated the delivery of six additional Boeing 737-800 aircraft into the first half of 2009, as it continues to execute on its fleet renewal plan and the replacement process for its MD-80 aircraft.
On March 28, 2007, American announced its intent to pull forward the delivery of 47 Boeing 737-800 aircraft under a previously existing purchase commitment with The Boeing Company. As part of the March 28 announcement, American accelerated the first three of these 737s for delivery in early 2009. Today's announcement means that a total of nine of the 47 737s have been accelerated for delivery under the existing purchase commitment.
American intends to continue pulling forward deliveries of the remainder of the 47 737 aircraft from their current 2013-2016 delivery schedules into the 2009-2012 timeframe. The Company reiterated that any decisions to accelerate 737 aircraft deliveries will depend on such factors as future economic and industry conditions and the financial condition of the Company.
"Our agreement with Boeing provides us with substantial fleet renewal flexibility while allowing us to continue to improve our financial foundation and position the company for long-term success," said AMR Chairman and CEO Gerard Arpey. "In addition, our plan to begin replacing our MD-80 fleet is an important component of our efforts to improve the fuel efficiency of our fleet by more than 20 percent by 2020 and to reduce carbon emission and noise levels."
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" and similar expressions are intended to identify 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; overall economic and industry conditions; plans and objectives for future operations; 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 on 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. 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; the ability of the Company to generate additional revenues and significantly reduce its costs; changes in economic and other conditions beyond the Company's control, and the volatile results of the Company's operations; 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; continued high fuel prices and further increases in the price of fuel, and the availability of fuel; the fiercely competitive business environment faced by the Company, and historically low fare levels; competition with reorganized and reorganizing carriers; the Company's reduced pricing power; the Company's likely need to raise additional funds and its ability to do so on acceptable terms; changes in the Company's 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 or avian flu) that affects travel behavior; 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; 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 Securities and Exchange Commission filings, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2006.
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SOURCE: American Airlines, Inc.
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