Summary: AMR Corp.

Standard&Poor's Ratings Services' ratings on Ft. Worth, Texas-based AMR Corp., and its major operating subsidiary American Airlines Inc., reflect the company's highly leveraged financial profile, with its significant intermediate-term debt maturities, and risks associated with participation in the price-competitive, cyclical, and capital-intensive airline industry. The ratings also incorporate AMR's adequate liquidity and diverse global route network. We characterize AMR's business risk profile as weak and its financial risk profile as highly leveraged. Since late 2008, AMR's market share has fallen to third place from first among U.S. airlines. It fell to number two behind Delta Air Lines Inc. when that airline merged with Northwest Airlines Inc., and on Oct. 1, 2010, fell to third place when the merger

...Standard & Poor's Ratings Services' ratings on Ft. Worth, Texas-based AMR Corp., and its major operating subsidiary American Airlines Inc., reflect the company's highly leveraged financial profile, with its significant intermediate-term debt maturities, and risks associated with participation in the price-competitive, cyclical, and capital-intensive airline industry. The ratings also incorporate AMR's adequate liquidity and diverse global route network. We characterize AMR's business risk profile as weak and its financial risk profile as highly leveraged. Since late 2008, AMR's market share has fallen to third place from first among U.S. airlines. It fell to number two behind Delta Air Lines Inc. when that airline merged with Northwest Airlines Inc., and on Oct. 1, 2010, fell to third place when the merger of UAL Corp. (parent of United Air Lines Inc.) and Continental Airlines Inc. resulted in the largest U.S. airline (and largest in the world, measured by traffic). Its global route network,...

Summary