American Airlines, Inc. http://www.alacrastore.com/company-snapshot/American_Airlines_Inc-1028383 Saturday, October 11, 2008 1:23:03 PM 1028383 American Airlines, Inc. en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/cs/74742cs/74742norm Airlines - #Q## Fleet Economics Industry aircraft operating unit costs grew ##% Y-o-Y on a ##% jump in fuel and #% in maintenance.  Network carriers removing older narrowbodies must balance traffic connecting through hubs onto profitable...74742586YesC0Article13011145107715130215421445137114251142109979310694corphy3442High Yield33Capital Structure9/30/2008 1:05:00 AM150Fleet rationalization is just not "get rid of the old planes".74742Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/spcred/120627spcred/120627normThe latest News from S&Pglobalstructuredpubfin9/26/2008 2:43:33 AM100News120627United StatesAirlinesUnited StatesGlobal IssuersStructured FinancePublic FinanceInternational Public FinanceCollateralized Debt ObligationsAsset-Backed Commercial PaperAsset-Backed SecuritiesCommercial MBSResidential MBSFinancial InstitutionsCorporationsTransportationNewsNEW YORK (Standard&Poor's CreditWire) September 22, 1999--Standard&Poor's today assigned preliminary ratings to American Airlines Inc.'s various classes of pass-through certificates series 1999-1. (See list below). Final ratings will be assigned upon completion of the review of legal documentation. The certificates are secured by equipment notes issued by American. The notes are secured debt by ten Boeing 737-823, three Boeing 767-323ER, and two Boeing 777-223IGW passenger jet aircraft delivered between June 1998 and September 1999. The preliminary ratings are based on: -- The corporate credit rating on AMR Corp. unit American Airlines Inc. (triple-'B'-minus/Stable/A-3); -- The availability of special protections under Section 1110 of the U.S. Bankruptcy Code to owners of equipment notes (and thus, indirectly, toUSA02377102378J02378H02378F02377802377J02377K02377M02377502378G02377902378E02376902377402376C20302010 203020 2030 20American Airlines Inc.100062USAAMR1NEWSDEUUSAU0722A00176500176L072738D0769YD076A0D076A1D07784D0778AD07812G0890L20302010 203020 2030 2040101010 401010 4010 40Bayerische LandesbankAMR Corp.100004104472LATAMERICAEMERGINGPACUSAEUROMIDAFRAMRBLGZ@GRGLOBISSSTRUCPUBFINGOVSCDOABCPABSCMBSRMBSFICORPTransportationCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/fitch/403906_report_framefitch/403906_report_framepdfFitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.American Airlines, Inc.AMR CorporationCitgo Petroleum CorporationCon-Way IncConocoPhillipsContinental Airlines, Inc.CSX CorporationDelta Air Lines, Inc.Federal Express CorporationFedEx CorporationFord Motor CompanyGeneral Motors CorporationJetBlue Airways CorporationKirby CorporationMarathon Oil CorporationNorfolk Southern CorporationSouthwest Airlines CompanySunoco Inc.Tesoro CorporationUAL CorporationUnited Air lines Inc.USF CorporationValero Energy CorporationYRC Worldwide Inc80088995800890008008902480089308800900988009076280091049800911068009118080091748800917538009214580361387803613888036146180361701813882688138827981986345823918998276472083067925833892638338926683589265835894689/23/2008 2:20:41 PM01030000010308000103100001031300010313010104000001070000275Special ReportAMRCALCNWCOPCSXDALFFDXGMJBLUKEXLUVMRONSCSUNTSOUAUAVLOYRCW403906_report_frameCredit & Investment ResearchFitch Researchhttp://www.alacrastore.com/storecontent/cs/74496cs/74496norm Airlines August #### Traffic Review - Takeoff to Higher PRASM The industry takes its first steps to rationalization. Domestic capacity dropped -#.#%, but more importantly low-cost-carriers shrank for the first time ever and regional...74496995YesC0Article1439941145107715106931142142597corphy3433Capital Structure42High Yield9/23/2008 8:06:12 AM150Domestic capacity rationalization takes its first baby steps; plus international sectors are on fire.74496Credit & Investment ResearchCreditSightsUS - British Airways PLC planned to acquire all the outstanding ordinary stock of American Airlines Inc, from AMR Corp.9/17/2008 1:38:07 PM110419023771110419001765British Airways PLCAmerican Airlines IncBritish Airways PLCAMR Corphttp://www.alacrastore.com/storecontent/Thomson_M%26A/British_Airways_PLC_acquires_American_Airlines_Inc_from_AMR_Corp-2012366020sdc/20123660202012366020Copyright © 2008, Thomson Financial, All Rights ReservedLondonAir Transportation and ShippingUnited KingdomAir transportation, scheduled4512FFForeignPublicBAY4512:Air transportation, scheduled4512:Air transportation, scheduledAir Transportation and ShippingUnited StatesAir transportation, scheduled4512TXTexasSubsidiary857002Passenger airlinePassenger airline; holding coUnspecifiedStock210002Sep 17 2008418000.000005384.00000-329.000001775.000000.00000880.00000765.00000176.00000418.000000.9840016.78500-1385.000000.00000-1773.00000-1773.0000023405.00000712.0000025913.00000STG31 Mar 080.000000.592001348.372000.0000017356.3240022055.79700British Pound30 Jun 0831 Dec 0731 Dec 0631 Dec 0531 Dec 0431 Dec 031.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.00000British Airways PLC is apassenger airlineheadquartered inHarmondsworth, United Kingdom.The company operates 245aircrafts to over 300destinations worldwide andcarried over 33 millionpassengers and 805,000 tonnesof cargo in 2007.British Airways PLC is a passenger airline headquartered inHarmondsworth, United Kingdom. The company operates 245aircrafts to over 300 destinations worldwide and carriedover 33 million passengers and 805,000 tonnes of cargo in2007.British Airways PLC is a passenger airline headquartered in Harmondsworth, United Kingdom. The company operates 245 aircrafts to over 300 destinations worldwide and carried over 33 million passengers and 805,000 tonnes of cargo in 2007.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.00000American Airlines Inc, locatedin Fort Worth, Texas, providesscheduled passenger, freightand mail airline services. TheCompany operates five hubsnamely, Dallas/Fort Worth,Chicago O'Hare, Miami, St.Louis and San Juan, PuertoRico. It providestransportation services across150 destinations throughoutNorth America, the Caribbean,Latin America, Europe and thePacific, and with operationsthroughout United States,Latin America, Europe andAsia. The company was foundedin 1926.American Airlines Inc, located in Fort Worth, Texas,provides scheduled passenger, freight and mail airlineservices. The Company operates five hubs namely, Dallas/FortWorth, Chicago O'Hare, Miami, St. Louis and San Juan, PuertoRico. It provides transportation services across 150destinations throughout North America, the Caribbean, LatinAmerica, Europe and the Pacific, and with operationsthroughout United States, Latin America, Europe and Asia.The company was founded in 1926.American Airlines Inc, located in Fort Worth, Texas, provides scheduled passenger, freight and mail airline services. The Company operates five hubs namely, Dallas/Fort Worth, Chicago O'Hare, Miami, St. Louis and San Juan, Puerto Rico. It provides transportation services across 150 destinations throughout North America, the Caribbean, Latin America, Europe and the Pacific, and with operations throughout United States, Latin America, Europe and Asia. The company was founded in 1926.0.000000.000000.000000.00000Y12 Sep 08Fri, 12 Sep 2008 00:00:00 ESTDate Announced: 09/12/2008Date Effective:MergerFriendly0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000001632.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000005615.665000.000000.000000.848000.000000.000000.000006304.000000.00000418.000000.0000043.033000.000000.000001.000002.000003.000004.000005.00000US - British Airways PLCplanned to acquire all theoutstanding ordinary stock ofAmerican Airlines Inc, fromAMR Corp.US - British Airways PLC planned to acquire all the outstanding ordinary stock of American Airlines Inc, from AMR Corp.US - British Airways PLC planned to acquire all the outstanding ordinary stock of AmericanAirlines Inc, from AMR Corp.US - British Airways PLC planned to acquire all the outstanding ordinary stock of American Airlines Inc, from AMR Corp.US - British Airways PLC planned to acquire all the outstanding ordinary stock of American Airlines Inc, from AMR Corp.Pending3233.00000680.000008753.0000011123.00000418000.00000-329.000001775.000000.00000880.00000765.00000176.00000418.00000-1385.000000.000000.000000.000000.000000.000000.00000418.000001444.000000.00000-1179.00000-105.00000345.00000356.000000.00000-892.00000-821.00000-1318.00000-1773.00000356.000000.00000-892.00000-821.00000-1409.00000-1773.0000022833.000000.0000020657.0000018608.0000017403.0000023405.0000025913.0000025385.000000.0000026041.0000025462.0000026471.00000Status:PendingUS-999.00000np0.00000-999.00000np0.000000.000000.000005.135007.02500418.00000-1.26800-1.042000.000000.000000.000004512:Air transportation, scheduled4513:Air courier services857002LondonUnited Kingdom4512ForeignPublicBAY4512:Air transportation, scheduled6719:Offices of holding companies, nec32001New YorkUnited States4512TexasPublicAMR0.000000.000000.000000.00000Deal InformationTF Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/cs/74264cs/74264norm Airlines: #Q## Aircraft Cost Survey - Focus on ##-Seat RJ's Unit fuel consumption does not seem to be the major issue with ##-seat RJ's-regional fares are. Unit fuel costs jumped ##% Y-o-Y across all the airlines. Maintenance costs...Yes150The focus of this quarterly aircraft cost survey is on unit fuel consumption.74264859C0Article13011145947151071302154214391425114210997137193106corphy3442High Yield9/16/2008 10:05:00 PM74264Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/73726cs/73726norm AMR #Q## Tearsheet Since its pioneering and successful out-of-court restructuring in ####, AMR's costs are now above market-and labor is clamoring to raise compensation.##% international exposure provides some insulation from domestic...73726651YesC21Tearsheet97tearsheets/premium349/3/2008 2:04:41 PM15073726Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/73712cs/73712norm Oil Meltdown Ignites Airlines Another big equity rally on oil price declines. Expect sequential deterioration in #Q## financials. $### million of industry out-of-period hedge gains put in #Q## operating income will likely be reversed....737121022YesD0Article114510971594107106971142142593corphy3433Capital Structure42High Yield21Sector Outlooks9/3/2008 12:05:00 AM150The oil price decline takes significant future risk out of the airline industry, but at the cost of near-term profitabiliy and cash balances.73712Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/73516cs/73516norm Airlines July #### Traffic Review - PRASM Deceleration Returns to Trend Atlantic sector PRASM growth bounced back. LatAm continues to outperform. Fares up across all sectors but Y-o-Y lower load factors retard unit revenue growth....73516617YesC0Article114510971594107142511429310697corphy3442High Yield9/2/2008 11:05:17 AM150The big news is a sharp deline emerging in low-cost carrier growth.73516Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/73253cs/73253norm AMR/BAB JV Analysis AMR, BAB, and IBLA formalize a business combination by applying for EU and US regulatory approval. The big question is how much Heathrow domination competitors can chip away. Airline JV's are revenue enhancing,...732531403YesD0Article97658corphy3421Sector Outlooks42High Yield8/14/2008 11:06:00 PM150AMR and BAB try again for regulatory approval, but bottom line impact is a long way off.73253Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_160335_52700moodys/PR_160335_52700htmlGlobal Credit Research Rating Action # AUG #### Rating Action: AMR Corporation Moody's downgrades debt ratings of AMR Corp. -- corporate family to Caa#; Outlook Negative Approximately $#.# billion of Debt Securities affected New York,...8/2/2008 12:34:57 AMhtmlAMR CorporationAmerican Airlines, Inc.American Airlines 1988-A Grantor TrustAmerican Airlines 1988-A Grantor Trust; American Airlines, Inc.; AMR Corporation5270032600193600150.0000NewsRating ActionPR_160335_52700Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/72484cs/72484norm Airlines: Bulls vs Bears Many airline equities doubled while term debt remains priced in the low ##'s. Industry cash levels are deceivingly high given hedge counterparty collateral deposits and air traffic liability seasonality. Revenue...724841967YesD0Article114593109941077151142142597106corphy3433Capital Structure34Companies with Convertibles55Bankruptcy42High Yield21Sector Outlooks7/30/2008 11:05:00 PM150Looking inside the 2Q08 numbers reveals a much stronger case for the bears.72484Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71910cs/71910norm Airlines June #### Traffic Review - Atlantic Bubble Bursting? Atlantic PRASM growth ground to a halt-only one data point but in a very important sector. LatAm continues with strong financial growth, driven by both yield and load factor. ...71910657YesC0Article114510971594107142511429310697corphy3442High Yield7/21/2008 12:07:05 AM150Storm clouds over the Atlantic.71910Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71777cs/71777norm American Airlines #Q## - The Fuel Hill is Too High to Climb Revenue growth came up $### million short versus oil and operating expense increases. The current fare environment is not conducive to closing the gap any time soon. Cash...33Capital Structure7/17/2008 1:06:09 AM150AMR needs an oil market collapse or massive industry capacity cuts stimulating fares to return to full-year profitability.717771203YesD0Article97corphy3442High Yield68Earnings Reports - Industrials/Consumer71777Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/71705cs/71705norm Airline Goodwill: Par or Zero? DAL/NWA write down $## billion of combined goodwill, but retain $# billion; UAUA and LCC write off all goodwill; no other airline has any goodwill on the books. Expect further goodwill writeoffs at DAL/NWA....717051097YesD0Article7151099410710614259397corphy3433Capital Structure42High Yield7/16/2008 11:06:10 AM150Goodwill is unevenly distributed across airline balance sheets, and the writedowns are not over.71705Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/moodys/PR_159132_52700moodys/PR_159132_52700htmlGlobal Credit Research Rating Action ## JUL #### Rating Action: AMR Corporation Moody's reviews debt ratings of AMR Corp. for possible downgrade Approximately $#.# billion of debt securities affected New York, July ##, #### -- Moody's...7/12/2008 1:00:37 AMhtmlAMR CorporationAmerican Airlines, Inc.American Airlines 1988-A Grantor TrustAmerican Airlines 1988-A Grantor Trust; American Airlines, Inc.; AMR Corporation5270032600193600150.0000NewsRating ActionPR_159132_52700Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/cs/70999cs/70999norm AMR #Q## Tearsheet Since its pioneering and successful out-of-court restructuring in ####, AMR's costs are now above market-and labor is clamoring to raise compensation.##% international exposure provides some insulation from domestic...70999579YesC21Tearsheet97tearsheets/premium346/25/2008 3:04:37 PM15070999Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70885cs/70885norm Airlines May #### Traffic Review - Good is not Good Enough Anymore Yields, load factors, PRASM, traffic, and capacity all increased in May on a consolidated basis.  Net domestic and regional capacity continues to decline, but only...70885758YesC0Article1145109715941079314251142143910697corphy3442High Yield6/23/2008 1:04:00 AM150A good month is not good enough anymore.70885Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/70747cs/70747norm Airlines: #Q## Aircraft Operating Cost Survey - Focus on MD-## Unit fuel expense grew ##% Y-o-Y, lagging the quarter's ##% jump in crude oil. Maintenance costs continue their unit growth. Labor savings bottom out. MD-## unit fuel...707471018YesD0Article130171594114513021071445154214259710911421371143910693corphy3442High Yield6/17/2008 11:06:00 PM150The fuel spike kicked in during 4Q07, and aircraft operating costs reflect it. A special focus is on the MD-80.70747Credit & Investment ResearchCreditSightshttp://www.alacrastore.com/storecontent/cs/69642cs/69642norm Airlines - April #### Traffic Review: PRASM Gains Significantly Lag Fuel Expense April yields fell far short of what is required to cover rising fuel expenses. The Atlantic sector remains strong despite continued capacity growth. ...69642768YesC0Article1145109715941079314251142143910697corphy3442High Yield6/12/2008 12:12:48 PM150April yields fell far short of what is required to cover rising fuel expenses.69642Credit & Investment ResearchCreditSights