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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
_____________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of earliest event
reported: September 7, 2001
AMR CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-8400 75-1825172
(State of Incorporation) ( Commission File Number) (IRS Employer
Identification No.)
4333 Amon Carter Blvd. Fort Worth, Texas 76155
(Address of principal executive offices) (Zip Code)
(817) 963-1234
(Registrant's telephone number)
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Item 5. Other Events
AMR Corporation (AMR) is filing herewith a press release
issued by AMR on September 7, 2001 as Exhibit 99.1 which is
included herein. This press release was issued to announce:
(i) AMR expects a third quarter loss considerably larger than
its second quarter loss in addition to a significant fourth
quarter loss, and (ii) American Airlines, Inc. (a wholly owned
subsidiary of AMR) will retire five more Boeing 727 aircraft
earlier than originally planned.
Item 7. Financial Statements and Exhibits
The following exhibits are included herein:
99.1 Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly
authorized.
AMR CORPORATION
/s/ Charles D. MarLett
Charles D. MarLett
Corporate Secretary
Dated: September 7, 2001
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EXHIBIT INDEX
Exhibit Description
99.1 Press Release
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Exhibit 99.1
Contact:Corporate Communications
Fort Worth, Texas
817-967-1577
FOR RELEASE: Friday, Sept. 7, 2001
AMR EXPECTS THIRD QUARTER LOSS, RETIRES MORE AIRCRAFT IN RESPONSE TO
SLUGGISH ECONOMY
FORT WORTH, Texas - AMR Corp., the parent company of
American Airlines, Inc. and TWA Airlines LLC, said today that
it expects a third quarter loss considerably larger than its
second quarter loss as it continues to feel the combined
effects of a weak economic climate, high fuel prices and
increased labor costs. The company said that it also expects
a significant fourth quarter loss.
To further rein in capacity while demand is weak, the
company announced today that it would retire five more Boeing
727 aircraft earlier than originally planned. These five
aircraft, which would have been retired during 2003, will now
be retired during first quarter 2002. This latest change
means that American will retire its entire Boeing 727 fleet by
the end of 2002, a full year ahead of the original plan.
This latest round of capacity cuts brings to 41 the
number of active aircraft that AMR will retire early in
response to poor economic conditions and falling demand. As a
result, capacity for the combined American/TWA entity will be
flat in 2001 and will fall by almost one and a half percent in
2002.
American will continue to accept aircraft that are
already on firm order and currently scheduled for delivery
through 2004. However, the company has passed on recent
purchase rights for additional aircraft that would have been
delivered in 2002 and 2003.
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AMR Expects Third Quarter Loss, Retires More Aircraft
Sept. 7, 2001
Page 2
By not exercising these purchase rights, and trimming
other spending, American has reduced its 2001-2002 capital-
spending plan by almost $1.2 billion since the beginning of
this year.
Tom Horton, AMR's chief financial officer said the
company is committed to sustaining its industry-leading
financial strength. "We'll continue to take prudent steps
consistent with this very tough operating climate. American's
financial strength and flexibility are important assets at a
time like this."
Summary of AMR's 2001 Capacity Reduction Actions
Date Action
June 18, 2001 Announced plans to accelerate retirement of 22 aircraft -- 19
DC-9s, two Boeing 727s and one Fokker 100.
July 2001 Made arrangements to avoid delivery of five used MD-80s
previously scheduled to join fleet as part of TWA asset
acquisition.
Aug. 2, 2001 Announced plans to accelerate retirement of
five additional Boeing 727s.
Aug. 20, 2001 Announced plans to accelerate retirement of five additional
Boeing 727s and four MD-11s.
Sept. 7, 2001 Announced plans to accelerate retirement of
five additional Boeing 727s. Affirmed the
company has passed on recent purchase rights
for additional aircraft that would have been
delivered in 2002 and 2003.
Statements in this news release contain forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Act
of 1934, as amended, which represent the Company's
expectations or beliefs concerning future events. When used
in this release, the word "expects" and similar expressions
are intended to identify forward-looking statements. All
forward-looking statements in this release are based upon
information available to the Company on the date of this
release. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Forward-looking statements are subject to a number of factors
that could cause actual results to differ materially from our
expectations. These factors include: general economic
conditions, commodity prices, and the ability to successfully
integrate TWA Airlines LLC's operations into American
Airlines. Additional information concerning these and other
factors is contained in the Company's Securities and Exchange
Commission filings, including but not limited to the Form 10-K
for the year ended Dec. 31, 2000.
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Current AMR Corp. news releases can be accessed via the
Internet.
The address is http://www.amrcorp.com