AMR Corporation announces agreements with Airbus and Boeing.
FORT WORTH, Texas, July 20, 2011 /PRNewswire/ -- AMR Corporation, the parent company of American Airlines and American Eagle, today announced landmark agreements with Airbus and Boeing that will allow it to replace and transform American's narrowbody fleet over five years and solidify its fleet plan into the next decade. These new aircraft will allow American to reduce its operating and fuel costs and deliver state-of-the-art amenities to customers, while maximizing financial flexibility for the Company.
Under the new agreements, American will acquire 460 narrowbody, single-aisle aircraft from the Boeing 737 and Airbus A320 families beginning in 2013 through 2022 the largest aircraft order in aviation history. As part of these agreements, starting in 2017 American will become the first network U.S. airline to begin taking delivery of "next generation" narrowbody aircraft that will further accelerate fuel-efficiency gains.
These new deliveries are expected to pave the way for American to have the youngest and most fuel-efficient fleet among its U.S. airline peers in approximately five years.
American also will benefit from approximately $13 billion of committed financing from the manufacturers through lease transactions that will help maximize balance sheet flexibility and reduce risk. The financing fully covers the first 230 deliveries.
American's actions were greeted with support from several state governors, including some from where American's cornerstone markets are located.
"With more than 24,000 employees in Texas, AMR Corporation, American Airlines and American Eagle are not only part of keeping Texas' economic engine running, but also connect important business centers throughout the country and around the world. I'm pleased AMR Corporation is continuing to invest both in Texas and visitors to our state, and wish them the best in this new endeavor."
-- Texas Governor Rick Perry
American Airlines/American Eagle in Texas*
Total State GDP Impact$28.3 Billion in economic activity
AA Employees in the state24,420 employees
Total State Job Impact (direct and indirect)199,648 jobs
Passengers carried into and out of the state54 million passengers
Average Daily Departures905
Average Daily Seats for Sale in the State99,746
Total Cities Served183
"The aerospace industry is an important economic engine for California, and American Airlines and American Eagle together support tens of thousands of jobs in our state. This order for hundreds of new, more fuel efficient aircraft is a positive sign that American's commitment to its customers and employees in California will continue to grow and strengthen in the years ahead."
- California Governor Jerry Brown
American Airlines/American Eagle in California*
Total State GDP Impact$9.1 Billion in economic activity
AA Employees in the state6361 employees
Total State Job Impact (direct and indirect)86.016 jobs
Passengers carried into and out of the state18.4 million passengers
Average Daily Departures267
Average Daily Seats for Sale in the State32,628
Total Cities Served52
"American Airlines plans to continue being an important partner in Illinois' ongoing economic recovery. Its decision to acquire hundreds of new aircraft is a smart investment that will benefit both the airline and the state of Illinois. Choosing fuel-efficient aircraft made by Boeing, which has its world headquarters in our state, will pay important dividends in Illinois for years to come."
- Illinois Governor Pat Quinn
American Airlines/American Eagle in Illinois*
Total State GDP Impact$7.5 Billion in economic activity
AA Employees in the state9522 employees
Total State Job Impact (direct and indirect)71,239 jobs
Passengers carried into and out of the state23.7 million passengers
Average Daily Departures521
Average Daily Seats for Sale in the State45,261
Total Cities Served121
"American plays a vital role in Florida's tourism industry and is an essential contributor of commerce in our state and region. I applaud their decision to reinvest in their operations with new, customer friendly, fuel-efficient aircraft. A strong American Airlines with all new aircraft will only serve to further the growth of Miami International Airport and strengthen Miami-Dade County's competitive position as a leading global gateway for international trade and economic development. With more than 30 million passengers carried into and out of the state annually, American's efforts to renew its fleet will only serve to bolster the strong partnership that exists between them and Florida's business and tourism community."
- Florida Governor Rick Scott
American Airlines/American Eagle in Florida*
Total State GDP Impact$13.9 Billion in economic activity
AA Employees in the state9284 employees
Total State Job Impact (direct and indirect)155,652 jobs
Passengers carried into and out of the state30.2 million passengers
Average Daily Departures399
Average Daily Seats for Sale in the State57,237
Total Cities Served116
"Today's announcement by American Airlines is great news for Boeing, and serves as vote of confidence in our aerospace manufacturing industry. As home to Boeing and 650 aerospace supply companies, along with the most highly trained aerospace workforce, we know there is no better place to build airplanes than Washington state. We're ready to build new planes, and I'm confident this announcement will lead to additional work for our 84,000 aerospace workers, and will serve to strengthen our state's economy."
- Washington Governor Chris Gregoire
* Note: Economic Impact Numbers are based upon AMR's Economic data for 2010 applying unique state multipliers; Operational Activity is based upon APGDAT, DIIO data, pulled July 18, 2010 for month of July; Total Cities Served includes cities served non-stop inside the respective state and from the respective state.
About American Airlines
American Airlines, American Eagle and AmericanConnection® serve 250 cities in 50 countries with, on average, more than 3,600 daily flights. The combined network fleet numbers more than 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 serve approximately 900 destinations with more than 9,000 daily flights to 145 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. (NYSE: AMR).
Current AMR Corp. releases can be accessed on the Internet.
The address is http://www.aa.com
SOURCE AMR Corporation