<PAGE> 1
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: July 19, 2000
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)
<PAGE> 2
Item 5. Other Events
AMR Corporation (the "Company") is filing herewith a press
release issued on July 19, 2000 by the Company as Exhibit 99.1
which is included herein. This press release was issued to
report the Company's second quarter 2000 earnings.
Item 7. Financial Statements and Exhibits
The following exhibit is included herein:
99.1 Press Release
<PAGE> 3
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: July 20, 2000
<PAGE> 4
EXHIBIT INDEX
Exhibit Description
99.1 Press Release
<PAGE> 5
Exhibit 99.1
Contact: Corporate Communications
Fort Worth, Texas
817-967-1577
FOR RELEASE: Wednesday, July 19, 2000
AMR REPORTS SECOND-QUARTER EARNINGS OF
$285 MILLION BEFORE A SPECIAL ITEM
FORT WORTH, Texas - AMR Corporation, parent company of
American Airlines, Inc., today reported second-quarter net
earnings of $285 million, or $1.75 per common share diluted,
before a special item. This compares to net earnings from
continuing operations of $216 million, or $1.36 per common share
diluted, in the same period in 1999. After accounting for the
special item, a $36 million after-tax gain from the sale of its
warrants on priceline.com stock, AMR reported net earnings of
$321 million, or $1.96 per common share diluted.
"A strong economy drove record levels of traffic during the
second quarter, resulting in outstanding revenue performance in
all aspects of the business," said Donald J. Carty, AMR's
chairman and CEO. "Special thanks go to our people around the
system who put forth a tremendous effort to serve a record number
of passengers."
"While fuel prices continued to be a challenge, our fuel
hedging program helped temper the impact and saved us more than
$100 million in the quarter," Carty said.
Carty said American's "More Room Throughout Coach"
initiative continues to be a big hit among customers and
employees, citing a regular flow of e-mails and letters praising
the added space. American has now reconfigured nearly 90 percent
of its domestic fleet - more than 500 aircraft - to provide more
leg room throughout the entire coach cabin.
--more--
<PAGE> 6
AMR Second Quarter Earnings
July 19, 2000
Page 2
---
Editor's Note: AMR's Chief Financial Officer, Tom Horton, will be
available to answer questions during a telephone news conference
on Wednesday, July 19, from 3 p.m. to 3:45 p.m. EDT. Reporters
interested in joining the conference should call 817-967-1577 for
details.
---
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. 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, 1999.
Detailed financial information follows.
<PAGE> 7
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended June 30, Percent
2000 1999 Change
<S> <C> <C> <C>
Revenues
Passenger - American Airlines $4,186 $ 3,751 11.6
- AMR Eagle 368 340 8.2
Cargo 180 164 9.8
Other revenues 277 286 (3.1)
Total operating revenues 5,011 4,541 10.4
Expenses
Wages, salaries and benefits 1,674 1,561 7.2
Aircraft fuel 567 414 37.0
Depreciation and amortization 294 268 9.7
Maintenance, materials
and repairs 272 223 22.0
Commissions to agents 273 298 (8.4)
Other rentals and landing fees 256 241 6.2
Food service 198 185 7.0
Aircraft rentals 151 162 (6.8)
Other operating expenses 809 775 4.4
Total operating expenses 4,494 4,127 8.9
Operating Income 517 414 24.9
Other Income (Expense)
Interest income 34 17 *
Interest expense (115) (94) 22.3
Interest capitalized 36 29 24.1
Miscellaneous - net 50 (6) *
5 (54) *
Income From Continuing Operations
Before Income Taxes 522 360 45.0
Income tax provision 201 144 39.6
Income From Continuing Operations 321 216 48.6
Income From Discontinued
Operations (net of applicable
income taxes and minority
interest) - 52 -
Net Earnings $ 321 $ 268 19.8
</TABLE>
Continued on next page.
<PAGE> 8
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(in millions, except per share amounts)
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended June 30,
2000 1999
<S> <C> <C>
Earnings Per Common Share
Basic
Income from Continuing Operations $ 2.15 $ 1.41
Discontinued Operations - 0.35
Net Earnings $ 2.15 $ 1.76
Diluted
Income from Continuing Operations $ 1.96 $ 1.36
Discontinued Operations - 0.34
Net Earnings $ 1.96 $ 1.70
Number of Shares Used in
Computation
Basic 150 153
Diluted 164 158
</TABLE>
* Greater than 100%
<PAGE> 9
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except per share amounts)
(Unaudited)
<TABLE>
<CAPTION>
Six Months Ended June 30, Percent
2000 1999 Change
<S> <C> <C> <C>
Revenues
Passenger - American Airlines $7,956 $ 7,071 12.5
- AMR Eagle 706 611 15.5
Cargo 347 309 12.3
Other revenues 579 557 3.9
Total operating revenues 9,588 8,548 12.2
Expenses
Wages, salaries and benefits 3,291 3,028 8.7
Aircraft fuel 1,120 763 46.8
Depreciation and amortization 582 521 11.7
Maintenance, materials
and repairs 543 480 13.1
Commissions to agents 530 586 (9.6)
Other rentals and landing fees 493 470 4.9
Food service 383 352 8.8
Aircraft rentals 304 322 (5.6)
Other operating expenses 1,613 1,566 3.0
Total operating expenses 8,859 8,088 9.5
Operating Income 729 460 58.5
Other Income (Expense)
Interest income 66 41 61.0
Interest expense (234) (187) 25.1
Interest capitalized 74 62 19.4
Miscellaneous - net 44 24 83.3
(50) (60) (16.7)
Income From Continuing Operations
Before Income Taxes 679 400 69.8
Income tax provision 269 167 61.1
Income From Continuing Operations 410 233 76.0
Income From Discontinued
Operations (net of applicable
income taxes and minority
interest) 43 129 (66.7)
Gain on Sale of Discontinued
Operations (net of applicable
income taxes) - 64 -
Net Earnings $ 453 $ 426 6.3
</TABLE>
Continued on next page.
<PAGE> 10
AMR CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (CONTINUED)
(in millions, except per share amounts)
(Unaudited)
<TABLE>
<CAPTION>
Six Months Ended June 30,
2000 1999
<S> <C> <C>
Earnings Per Common Share
Basic
Income from Continuing Operations $ 2.75 $ 1.49
Discontinued Operations 0.29 1.24
Net Earnings $ 3.04 $ 2.73
Diluted
Income from Continuing Operations $ 2.58 $ 1.45
Discontinued Operations 0.27 1.20
Net Earnings $ 2.85 $ 2.65
Number of Shares Used in
Computation
Basic 149 156
Diluted 159 161
</TABLE>
* Greater than 100%
<PAGE> 11
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
<TABLE>
<CAPTION>
Three Months Ended June 30, Percent
2000 1999 Change
<S> <C> <C> <C>
American Airlines
Revenue passenger miles (millions) 30,449 28,908 5.3
Available seat miles (millions) 40,095 40,406 (0.8)
Cargo ton miles (millions) 571 511 11.7
Passenger load factor 75.9% 71.5% 4.4 pts.
Breakeven load factor 65.6% 63.2% 2.4 pts.
Passenger revenue yield per
passenger mile (cents) 13.75 12.97 6.0
Passenger revenue per available
seat mile (cents) 10.44 9.28 12.5
Cargo revenue yield per
ton mile (cents) 31.04 31.67 (2.0)
Operating expenses per available
seat mile (cents) 10.24 9.31 10.0
Fuel consumption (gallons,
in milions) 759 745 1.9
Fuel price per gallon (cents) 71.0 53.0 33.9
Fuel price per gallon, excluding
fuel taxes (cents) 65.9 48.4 36.2
Operating aircraft at period-end 712 697 2.2
AMR Eagle
Revenue passenger miles (millions) 961 885 8.6
Available seat miles (millions) 1,546 1,422 8.7
Passenger load factor 62.2% 62.2% -
Operating aircraft at period-end 272 260 4.6
AMR Corporation
Average Equivalent Number of Employees
AA Jet Operations 91,500 86,500
Other 14,400 14,500
Total 105,900 101,000
</TABLE>
<PAGE> 12
AMR CORPORATION
OPERATING STATISTICS
(Unaudited)
<TABLE>
<CAPTION>
Six Months Ended June 30, Percent
2000 1999 Change
<S> <C> <C> <C>
American Airlines
Revenue passenger miles (millions) 57,471 54,198 6.0
Available seat miles (millions) 80,115 78,109 2.6
Cargo ton miles (millions) 1,117 942 18.6
Passenger load factor 71.7% 69.4% 2.3 pts.
Breakeven load factor 64.6% 64.9% (0.3) pts.
Passenger revenue yield per
passenger mile (cents) 13.84 13.05 6.1
Passenger revenue per available
seat mile (cents) 9.93 9.05 9.7
Cargo revenue yield per
ton mile (cents) 30.69 32.36 (5.2)
Operating expenses per available
seat miles (cents) 10.10 9.46 6.8
Fuel consumption (gallons,
in millions) 1,489 1,432 4.0
Fuel price per gallon (cents) 71.6 51.0 40.4
Fuel price per gallon, excluding
fuel taxes (cents) 66.3 46.6 42.3
Operating aircraft at period-end 712 697 2.2
AMR Eagle
Revenue passenger miles (millions) 1,822 1,591 14.5
Available seat miles (millions) 3,060 2,633 16.2
Passenger load factor 59.6% 60.4% (0.8) pts.
Operating aircraft at period-end 272 260 4.6
</TABLE>
