Tag Archives: AMR Corporation

American Airlines to offer $1 billion in notes

American Airlines (AMR Corporation) (Dallas/Fort Worth) plans to offer $1 billion in secured notes in a private offering to cover operating expenses in 2011. The corporation was one of the few U.S. airline groups to lose money in 2010 (along with Republic Airways Holdings). The notes will be secured with route authorities, landing and takeoff slots and airport rights.

Read the full press release: CLICK HERE

Will AMR sell off American Eagle?

AMR Corporation (Dallas/Fort Worth) may be getting closer to selling off its American Eagle Airlines (2nd) subsidiary according to this article by Bloomberg.

Read the full article:

CLICK HERE

Copyright Photo: Bruce Drum.

American Airlines orders two Boeing 777-323 ERs, loses money in the 4Q and 2010

American Airlines (Dallas/Fort Worth) has ordered two stretched Boeing 777-323 ERs for deliveries late next year.

On the financial side, AMR Corporation, the parent company of American Airlines, Inc., reported a net loss of $97 million, or $0.29 per share, for the fourth quarter of 2010. The fourth quarter 2010 results include the impact of approximately $28 million in a non-cash impairment charge to write down certain route authorities in Colombia as a result of a recent open skies agreement. Excluding this special item, the Company lost $69 million, or $0.21 per share. Results include a $35 million tax benefit primarily related to The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 passed in late December.

The results for the fourth quarter of 2010 compare to a loss of $344 million, or $1.03 per share, for the fourth quarter of 2009. The fourth quarter 2009 results include the positive net impact of $71 million in non-cash special items and a non-cash tax item. Excluding these special items and the non-cash tax item, the Company lost $415 million, or $1.25 per share, in the fourth quarter of 2009.

For all of 2010, AMR recorded a net loss of $471 million, or $1.41 per share, compared to a loss of $1.5 billion, or $4.99 per share, for 2009. Excluding special items and non-cash tax items, the Company lost $389 million, or $1.17 per share, in 2010, compared to a loss of $1.4 billion, or $4.63 per share, in 2009.

Copyright Photo: Bruce Drum. Please click on the photo for additional details.

AMR builds up Los Angeles, turns a 3Q profit of $143 million

American Airlines and American Eagle (Dallas/Fort Worth) have strengthened their commitment to Los Angeles with plans to add 10 new destinations โ€“ one international and nine domestic โ€“ for a total of 33 additional round trips beginning April, 5, 2011.

New destinations from LAX include (total number of daily flights):

Albuquerque, N.M. (3)
Boise, Idaho (2)
El Paso, Texas (2)
Houston Bush Intercontinental (3)
Oklahoma City, Okla. (1)
Phoenix, Ariz. (4)
Shanghai, China* (1)
Salt Lake City, Utah (3)
Sacramento, Calif. (4)
Tucson, Ariz. (3)

Four of the new routes will be served by American Eagle’s Bombardier CRJ700 fleet, which now features a First Class cabin. All four existing daily flights to Denver also will be upgraded with the addition of CRJ700 service.

In addition to Los Angeles-Shanghai, American will offer seven additional daily domestic flights from Los Angeles, including two flights each to Dallas/Fort Worth and Miami and one flight each to Chicago, Las Vegas and Orlando. By spring 2011, American and American Eagle will offer 153 daily departures at LAX โ€“ a 28 percent increase from today’s schedule. The airlines also have flexibility to add more flights and destinations in the future.

American’s latest network enhancements at LAX will complement the 18 international departures offered by oneworld alliance members at the airport, including to such markets as Auckland, New Zealand; Hong Kong; Lima, Peru; London; Melbourne, Australia; San Salvador, El Salvador; and Tokyo.

With the Los Angeles expansion, American continues to strengthen its “cornerstone” network strategy that focuses more flying to and from the markets of Chicago, Dallas/Fort Worth, Los Angeles, Miami and New York. These markets represent top U.S. commerce centers and are significant international gateways, which provide the best connections to American’s global network and the networks of its partner airlines in the oneworld Alliance.

American has a rich historical connection to California. On Jan. 25, 1959, American became the first airline to offer coast-to-coast jet service with Boeing 707 flights between Los Angeles and New York’s Idlewild Airport.

Also this month, American received approval from the U.S. Department of Transportation to launch service between Los Angeles and Shanghai. The new route will enhance American’s service offering to China when it launches in April 2011, using 247-seat Boeing 777 aircraft which feature 16 First Class, 37 Business Class and 194 Economy Class seats.

Last month American announced new choices for customers between Los Angeles and Mexico through a new codeshare agreement with Alaska Airlines and Horizon Air. Pending regulatory approval, later this year American intends to offer customers the ability to purchase tickets on Alaska Airlines or Horizon Air from or through Los Angeles to the following markets: Mexico City**; Guadalajara**; La Paz (operated by Horizon Air); Loreto (operated by Horizon Air); Mazatlan; Puerto Vallarta; Ixtapa/Zihuatanejo and Manzanillo.

Last year, American Eagle opened a new terminal at LAX. As a result of today’s announcement, American Eagle plans to expand the facility by adding four more gates, an investment of approximately $20 million. Construction is expected to be completed by the end of 2011, giving American Eagle 10 gates at LAX. The American Eagle terminal upgrade will complement American’s amenities at Terminal 4, which features 13 gates, expanded curbside check-in with 13 skycap positions, 42 self-service machines, mobile check-in capability, including boarding pass and bag tag issuance, and an Admirals Club with a First Class Flagship Lounge. The airlines offer direct shuttle service between the two terminals.

On the financial side, AMR Corporation, the parent company of American Airlines, Inc., reported a net profit of $143 million for the third quarter of 2010, or $0.39 per diluted share.

The current quarter results compare to a net loss of $359 million for the third quarter 2009, or $1.26 per share, which included the impact of approximately $94 million in non-recurring charges related to the sale of certain aircraft and the grounding of leased Airbus A300 aircraft prior to lease expiration. Excluding those non-recurring charges, the third quarter 2009 loss was $265 million, or $0.93 per share.

Copyright Photo: Brian McDonough. Please click on the photo for further details.

Will AMR sell American Eagle?

American Eagle Airlines (Dallas/Fort Worth) is again facing the possibility of being spun off and sold. Parent AMR Corporation is again considering this possibility following the sale of two regional carriers by Delta Air Lines.

Eagle’s pilots, represented by ALPA, have demanded to be part of any considerations with the publication of this press release:

CLICK HERE

In route news, American Eagle Airlines, yesterday (July 2) launched five daily nonstop flights between New York LaGuardia Airport (LGA) and Atlanta Hartsfield International Airport (ATL). Eagle is flying the route with Bombardier CRJ700 regional jet aircraft, featuring Eagle’s new First Class service. Eagle is now expanding operations at LGA with CRJ700s.

Additionally, American Eagle, yesterday (July 2) also launched nonstop jet service between Chicago O’Hare International Airport (ORD) and Tri-Cities Regional Airport (TRI), operating the service with 44-seat Embraer ERJ 140 regional jets.

Copyright Photo: Brian McDonough. Bombardier CRJ700 (CL-600-2C10) N520DC (msn 10140) prepares to land at Washington (Reagan National).

AMR Corporation loses $344 million in the 4Q and $1.5 billion in 2009

Please click on the AG icon for a direct link to the American photo gallery.

AMR Corporation (American Airlines and American Eagle) (Dallas/Fort Worth) reported a fourth quarter net loss of $344 million and a yearly net loss for 2009 of $1.5 billion.

Press release:

finance.yahoo.com/news/AMR-Corporation-Reports-prnews-626158418.html?x=0&.v=1

AMR to eliminate 700 maintenance and engineering jobs

AMR Corporation (American Airlines and American Eagle) (Dallas/Fort Worth) is planning to eliminate 700 maintenance and engineering jobs.

News link:

finance.yahoo.com/news/AMR-to-cut-up-to-700-rb-3185688038.html?x=0&.v=2

AMR will also close the ex-TWA Kansas City maintenance base.

News link:

finance.yahoo.com/news/American-Airlines-will-close-apf-3101279950.html?x=0&.v=2

AMR Corporation loses $359 million in 3Q

American Airlines and American Eagle Airlines (AMR Corporation) (Dallas/Fort Worth) reported a net loss of $359 million in the third quarter ending on September 30.

Press release:

finance.yahoo.com/news/AMR-Corporation-Reports-a-prnews-2620727416.html?x=0&.v=1

AG Photo Link:

airlinersgallery.com/2/7e53c/#/gallery/american-airlines/

AMR signs HP LOI for new “Jetstream” system

AMR Corporation (American Airlines and American Eagle Airlines) (Dallas/Fort Worth) has signed a Letter of Intent (LOI) with HP to develop the new “Jetstream” passenger service system.

Press release:

finance.yahoo.com/news/AMR-Corporation-Signs-Letter-prnews-1808763532.html?x=0&.v=1

AMR reports a 2Q net loss of $390 million

AMR Corporation (American Airlines and American Eagle) (Dallas/Fort Worth) reported a second quarter net loss of $390 million.

Press release with full details:

finance.yahoo.com/news/AMR-Corporation-Reports-a-prnews-3323868625.html?x=0&.v=1