-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G97i4TuJcCkJJVYvKIJ49YbBtd7oZJBy7NEUnxldWE2EYCvlW328YSSIv+R9TaDC 8UsLLSU4EHf6zEfhqWHFyQ== 0000004515-95-000015.txt : 19951016 0000004515-95-000015.hdr.sgml : 19951016 ACCESSION NUMBER: 0000004515-95-000015 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19950630 FILED AS OF DATE: 19951005 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN AIRLINES INC CENTRAL INDEX KEY: 0000004515 STANDARD INDUSTRIAL CLASSIFICATION: 4512 IRS NUMBER: 131502798 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-02691 FILM NUMBER: 95578963 BUSINESS ADDRESS: STREET 1: 4333 AMON CARTER BLVD CITY: FT WORTH STATE: TX ZIP: 76155 BUSINESS PHONE: 8179631234 MAIL ADDRESS: STREET 1: P O BOX 619616 MD5661 CITY: DALLAS FORT WORTH AI STATE: TX ZIP: 75261-9616 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN AIRWAYS INC DATE OF NAME CHANGE: 19670629 10-Q/A 1 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q/A No. 1 []Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Period Ended June 30, 1995. [ ]Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period From to . Commission file number 1-2691. American Airlines, Inc. (Exact name of registrant as specified in its charter) Delaware 13-1502798 (State or other (I.R.S. Employer jurisdiction Identification No.) of incorporation or organization) 4333 Amon Carter Blvd. Fort Worth, Texas 76155 (Address of principal (Zip Code) executive offices) Registrant's telephone number, (817) 963- including area code 1234 Not Applicable (Former name, former address and former fiscal year , if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No . Applicable Only to Corporate Issuers Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practical date. Common Stock, $1 par value - 1,000 as of May 8, 1995 The registrant meets the conditions set forth in, and is filing this form with the reduced disclosure format prescribed by, General Instructions H(1)(a) and H(1)(b) of Form 10-Q. 2 INDEX AMERICAN AIRLINES , INC. PART I: FINANCIAL INFORMATION Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (as amended October 5, 1995) SIGNATURE 3 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS For the Six Months Ended June 30, 1995 and 1994 American recorded net earnings for the first six months of 1995 of $248 million. This compares to a net earnings of $169 million for the same period last year. American's operating income was $707 million for the first six months of 1995 compared to $477 million for the first six months of 1994. American's passenger revenues increased by 3.9 percent, $243 million during the first six months of 1995 versus the same period last year. American's yield (the average amount one passenger pays to fly one mile) of 13.12 cents decreased by 2.4 percent compared to the same period in 1994. Domestic yields decreased 4.2 percent from the first six months of 1994. International yields increased 2.3 percent over the first six months of 1994, due principally to a 10.1 percent increase in Europe partially offset by a 4.6 percent decrease in Latin America. American's traffic or revenue passenger miles (RPMs) increased 6.5 percent to 49.8 billion miles for the six months ended June 30, 1995. American's capacity or available seat miles (ASMs) increased 2.0 percent to 76.1 billion miles in the first six months of 1995, primarily as a result of increases in jet stage length and aircraft productivity. Jet stage length increased 8.4 percent and aircraft productivity, as measured by miles flown per aircraft per day, increased 5.5 percent compared with the first six months of 1994. American's domestic traffic increased 5.2 percent on capacity decreases of 0.7 percent and international traffic grew 9.7 percent on capacity increases of 9.1 percent. The change in international traffic was driven by a 13.6 percent increase in traffic to Latin America on capacity growth of 12.4 percent, and a 7.1 percent increase in traffic to Europe on a capacity increase of 6.7 percent. Other Airline Group revenues increased 16.6 percent, $49 million, primarily due to contract maintenance work performed by American for other airlines. Information Services Group revenues increased 10.0 percent, $66 million, primarily due to increased booking fee volume, which was positively impacted by international expansion in Europe, Latin America and India, and increased sales of premium priced products. On April 29, 1995 a hailstorm at American's Dallas/Fort Worth hub temporarily disabled approximately ten percent of American's fleet, forcing American to reduce scheduled service during the entire month of May. This adversely impacted the carrier's revenue and cost performance. The impact of the hailstorm reduced American's second quarter net income by approximately $17 million. American's operating expenses increased 2.3 percent, $156 million. Passenger Division cost per ASM increased by 0.5 percent to 8.46 cents. Wages, salaries and benefits rose 3.0 percent, $76 million, due primarily to provisions for profit sharing and salary adjustments for existing employees , partially offset by a 2.0 percent reduction in the average number of equivalent employees. Aircraft fuel expense decreased 0.7 percent, $5 million, due to a 1.3 percent decrease in American's average price per gallon partially offset by a 0.7 percent increase in gallons consumed by American. Commissions to agents decreased 3.3 percent, $21 million, due principally to a lower percentage of revenue subject to agent commissions combined with a reduction in average rates paid to agents attributable primarily to the change in commission structure implemented in February 1995. Other operating expenses increased 10.1 percent, $108 million, due to increased traffic and increases in contract maintenance expenses. Other Income (Expense) increased 44.8 percent or $90 million. Interest expense (net of amounts capitalized) increased $111 million due primarily to the effect of rising interest rates on floating rate debt and interest rate swap agreements and a change in the terms of the subordinated note agreement with AMR. Effective September 30, 1994, the subordinated promissory note bears interest based on the weighted average rate on AMR's long- term debt and preferred stock. Prior to September 30, 1994, interest on the subordinated note was based on the London Interbank Offered Rate (LIBOR). The increase in interest expense was partially offset by a $10 million increase in interest income attributable to higher average investment balances and higher average rates. 4 Signatures 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 thereunto duly authorized. AMERICAN AIRLINES, INC. Date: October 5, 1995 By: /s/ Charles D. Marlett Charles D. Marlett Corporate Secretary -----END PRIVACY-ENHANCED MESSAGE-----