American Airlines strikes back at doubters: Bullish on future

Despite criticism that American Airlines’ Flight Plan 2020 programme falls short in the eyes of the investment community, Chair and CEO Gerard Arpey, seemed as combative as such a mild mannered man can be. Speaking at the Bank of America Merrill Lynch Global Transportation conference, Mr Arpey's message was simple: Don’t count us out yet - we really do know what we are doing. [2339 words]

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This report contains the following subheadings:

• Focused on winning the most important markets, not all markets
• oneworld has "enormous momentum"
• Unit revenues now improving
• Convergence in labour costs
• Industry better positioned to leverage the recovery
• Arpey on merger speculation

This report contains the following charts and tables:

• US airline industry Return on Equity: 2000 to 2009
• American Airlines’ cornerstones: US metropolitan area population (mill)
• World’s 15 largest premium airports (premium passengers/day): 2009
• oneworld hubs : World’s 15 largest premium airports (premium passengers/day): 2009
• Key hubs’ share of premium capacity (seats) by alliance
• American Airlines vs Industry unit revenue growth (% change year-on-year): 2Q2008 to 1Q2010
• American vs rivals’ mainline absolute unit revenue: 1Q2010
• 2Q2010 entity mix impact: PRASM growth (% change year-on-year): Apr/May-2010
• American Airlines ancillary revenues (USD bill): 2004 to 2009
• US Industry labour contracts: Amendable years
• US airline performance on cost control: Full Year Unit Cost (Excluding Labor / Fuel)
• US domestic capacity (ASMs) growth vs 2005