FORT WORTH, Texas, March 10, 2014 /PRNewswire/ -- American
Airlines Group (NASDAQ: AAL) today reported February 2014 traffic results.
American Airlines Group's total revenue passenger miles (RPMs)
for the month were 15.1 billion, up 0.5 percent versus February 2013. Total capacity was 19.2 billion
available seat miles (ASMs), up 0.8 percent versus February 2013. Total passenger load factor was
78.4 percent for the month of February, down 0.3 points versus
February 2013.
During the first two months of the year, the company's
operations were significantly impacted by severe weather at its
hubs in Charlotte, Chicago, Dallas/Fort
Worth, New York,
Philadelphia and Washington, D.C. In February, the company
canceled more than 14,000 flights, up 149 percent versus
February 2013. In the first two
months of 2014, the company canceled approximately 28,000 flights,
a 164 percent increase over the same period in 2013.
The company believes the weather-related cancellations had a
slightly positive impact on unit revenue but had a larger negative
impact on unit cost and first quarter profitability. The company
expects to disclose an estimate of the one-time profitability
impact in early April.
Despite these weather-related difficulties, unit revenue remains
strong and the company continues to expect first quarter 2014 PRASM
to be up approximately 2 percent to 4 percent versus first quarter
2013.
The following summarizes American Airlines Group traffic results
for the month and year-to-date ended Feb.
28, 2014 and 2013, consisting of mainline-operated flights,
wholly owned regional subsidiaries and operating results from
capacity purchase agreements.
The company believes it is more meaningful to compare
year-over-year results for American Airlines and US Airways on a
combined basis. Accordingly, the traffic results provided above and
in the enclosed table combine the traffic results for AMR
Corporation and US Airways Group for all periods presented. See the
accompanying notes for further explanation of this
presentation.
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American Airlines
Group Traffic Results
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February
(a)
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Year to Date
(a)
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2014
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2013
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Change
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2014
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2013
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Change
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Revenue Passenger
Miles (000)
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Domestic
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9,012,943
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8,999,142
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0.2
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%
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19,090,471
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18,796,241
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1.6
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%
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Atlantic
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1,423,231
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1,373,357
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3.6
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%
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3,243,851
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3,063,164
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5.9
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%
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Latin
America
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2,599,135
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2,575,914
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0.9
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%
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5,759,416
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5,532,337
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4.1
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%
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Pacific
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501,264
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520,393
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(3.7)
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%
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1,117,517
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1,119,141
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(0.1)
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%
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International
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4,523,630
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4,469,664
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1.2
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%
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10,120,784
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9,714,642
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4.2
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%
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Mainline
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13,536,573
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13,468,806
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0.5
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%
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29,211,255
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28,510,883
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2.5
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%
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Regional
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1,539,617
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1,539,454
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-
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%
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3,169,918
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3,172,020
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(0.1)
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%
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Total Revenue
Passenger Miles
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15,076,190
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15,008,260
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0.5
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%
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32,381,173
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31,682,903
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2.2
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%
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Available Seat
Miles (000)
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Domestic
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10,863,793
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10,930,729
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(0.6)
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%
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23,105,699
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22,996,135
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0.5
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%
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Atlantic
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2,203,571
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2,069,678
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6.5
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%
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4,677,986
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4,359,712
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7.3
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%
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Latin
America
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3,522,419
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3,327,983
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5.8
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%
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7,457,677
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6,990,174
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6.7
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%
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Pacific
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631,002
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666,591
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(5.3)
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%
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1,350,561
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1,409,173
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(4.2)
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%
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International
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6,356,992
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6,064,252
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4.8
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%
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13,486,224
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12,759,059
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5.7
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%
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Mainline
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17,220,785
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16,994,981
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1.3
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%
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36,591,923
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35,755,194
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2.3
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%
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Regional
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1,998,129
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2,079,949
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(3.9)
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%
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4,184,698
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4,389,796
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(4.7)
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%
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Total Available
Seat Miles
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19,218,914
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19,074,930
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0.8
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%
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40,776,621
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40,144,990
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1.6
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%
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Load Factor
(%)
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Domestic
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83.0
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82.3
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0.7
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pts
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82.6
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81.7
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0.9
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pts
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Atlantic
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64.6
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66.4
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(1.8)
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pts
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69.3
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70.3
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(1.0)
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pts
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Latin
America
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73.8
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77.4
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(3.6)
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pts
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77.2
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79.1
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(1.9)
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pts
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Pacific
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79.4
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78.1
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1.3
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pts
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82.7
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79.4
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3.3
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pts
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International
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71.2
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73.7
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(2.5)
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pts
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75.0
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76.1
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(1.1)
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pts
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Mainline
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78.6
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79.3
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(0.7)
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pts
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79.8
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79.7
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0.1
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pts
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Regional
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77.1
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74.0
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3.1
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pts
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75.8
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72.3
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3.5
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pts
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Total Load
Factor
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78.4
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78.7
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(0.3)
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pts
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79.4
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78.9
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0.5
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pts
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Enplanements
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Mainline
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10,405,264
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10,472,665
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(0.6)
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%
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22,136,587
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21,838,570
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1.4
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%
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Regional
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3,553,335
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3,627,863
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(2.1)
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%
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7,309,488
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7,443,898
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(1.8)
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%
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Total
Enplanements
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13,958,599
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14,100,528
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(1.0)
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%
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29,446,075
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29,282,468
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0.6
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%
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System Cargo Ton
Miles (000)
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173,529
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156,097
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11.2
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%
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347,332
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308,561
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12.6
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%
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(a)
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Represents the
combined traffic results of American and US Airways. For further
information regarding the methodology
used to produce
combined historical results, please see our earnings press release
dated January 28, 2014 which can be found at
http://www.sec.gov/Archives/edgar/data/4515/000119312514023249/d662869d8k.htm.
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Notes:
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1)
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Canada, Puerto
Rico and U.S. Virgin Islands are included in the domestic
results.
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2)
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Latin America
numbers include the Caribbean.
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3)
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Regional includes
wholly owned subsidiaries and operating results from capacity
purchase carriers.
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About American Airlines Group
American Airlines Group
(NASDAQ: AAL) is the holding company for American Airlines and US
Airways. Together with American Eagle and US Airways Express, the
airlines operate an average of approximately 6,700 flights per day
to 338 destinations in 54 countries from its hubs in Charlotte, Chicago, Dallas/Fort
Worth, Los Angeles,
Miami, New York, Philadelphia, Phoenix and Washington, D.C. The American Airlines
AAdvantage and US Airways Dividend Miles programs allow members to
earn and redeem miles for travel and everyday purchases as well as
flight upgrades, vacation packages, car rentals, hotel stays and
other retail products. American is a founding member of the
oneworld® alliance, whose members and
members-elect serve 981 destinations with 14,244 daily flights to
151 countries. Connect with American on Twitter @AmericanAir and at
Facebook.com/AmericanAirlines, and follow US Airways on Twitter
@USAirways and at Facebook.com/USAirways.
Cautionary Statement Regarding Forward-Looking Statements and
Information
This document includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements may be
identified by words such as "may," "will," "expect," "intend,"
"anticipate," "believe," "estimate," "plan," "project," "could,"
"should," "would," "continue," "seek," "target," "guidance,"
"outlook," "if current trends continue," "optimistic," "forecast"
and other similar words. Such statements include, but are not
limited to, statements about the expected increase in PRASM, and
other statements that are not historical facts. These
forward-looking statements are based on the current objectives,
beliefs and expectations of American Airlines Group Inc. (formerly
named AMR Corporation) (the "Company"), and they are subject to
significant risks and uncertainties that may cause actual results
and financial position and timing of certain events to differ
materially from the information in the forward-looking statements.
The following factors, among others, could cause actual results and
financial position and timing of certain events to differ
materially from those described in the forward-looking
statements: significant operating losses in the future;
downturns in economic conditions that adversely affect the
Company's business; the impact of continued periods of high
volatility in fuel costs, increased fuel prices and significant
disruptions in the supply of aircraft fuel; competitive practices
in the industry, including the impact of low cost carriers, airline
alliances and industry consolidation; the challenges and costs of
integrating operations and realizing anticipated synergies and
other benefits of the merger transaction with US Airways Group,
Inc.; the Company's substantial indebtedness and other obligations
and the effect they could have on the Company's business and
liquidity; an inability to obtain sufficient financing or other
capital to operate successfully and in accordance with the
Company's current business plan; increased costs of financing, a
reduction in the availability of financing and fluctuations in
interest rates; the effect the Company's high level of fixed
obligations may have on its ability to fund general corporate
requirements, obtain additional financing and respond to
competitive developments and adverse economic and industry
conditions; the Company's significant pension and other
post-employment benefit funding obligations; the impact of any
failure to comply with the covenants contained in financing
arrangements; provisions in credit card processing and other
commercial agreements that may materially reduce the Company's
liquidity; the limitations of the Company's historical consolidated
financial information, which is not directly comparable to its
financial information for prior or future periods; the impact of
union disputes, employee strikes and other labor-related
disruptions; any inability to maintain labor costs at competitive
levels; interruptions or disruptions in service at one or more of
the Company's hub airports; any inability to obtain and maintain
adequate facilities, infrastructure and slots to operate the
Company's flight schedule and expand or change its route network;
the Company's reliance on third-party regional operators or
third-party service providers that have the ability to affect the
Company's revenue and the public's perception about its services;
any inability to effectively manage the costs, rights and
functionality of third-party distribution channels on which the
Company relies; extensive government regulation, which may result
in increases in the Company's costs, disruptions to the Company's
operations, limits on the Company's operating flexibility,
reductions in the demand for air travel, and competitive
disadvantages; the impact of the heavy taxation to which the
airline industry is subject; changes to the Company's business
model that may not successfully increase revenues and may cause
operational difficulties or decreased demand; the loss of key
personnel or inability to attract and retain additional qualified
personnel; the impact of conflicts overseas, terrorist attacks and
ongoing security concerns; the global scope of the Company's
business and any associated economic and political instability or
adverse effects of events, circumstances or government actions
beyond its control, including the impact of foreign currency
exchange rate fluctuations and limitations on the repatriation of
cash held in foreign countries; the impact of environmental
regulation; the Company's reliance on technology and automated
systems and the impact of any failure of these technologies or
systems; challenges in integrating the Company's computer,
communications and other technology systems; costs of ongoing data
security compliance requirements and the impact of any significant
data security breach; losses and adverse publicity stemming from
any accident involving any of the Company's aircraft or the
aircraft of its regional or codeshare operators; delays in
scheduled aircraft deliveries, or other loss of anticipated fleet
capacity, and failure of new aircraft to perform as expected; the
Company's dependence on a limited number of suppliers for aircraft,
aircraft engines and parts; the impact of changing economic and
other conditions beyond the Company's control, including global
events that affect travel behavior such as an outbreak of a
contagious disease, and volatility and fluctuations in the
Company's results of operations due to seasonality; the effect of a
higher than normal number of pilot retirements and a potential
shortage of pilots; the impact of possible future increases in
insurance costs or reductions in available insurance coverage; the
effect of several lawsuits that were filed in connection with the
merger transaction with US Airways Group, Inc. and remain pending;
an inability to use NOL carryforwards; any impairment in the amount
of goodwill the Company recorded as a result of the application of
the acquisition method of accounting and an inability to realize
the full value of the Company's and American Airlines' respective
intangible or long-lived assets and any material impairment charges
that would be recorded as a result; price volatility of the
Company's common stock; delay or prevention of stockholders'
ability to change the composition of the Company's board of
directors and the effect this may have on takeover attempts that
some of the Company's stockholders might consider beneficial; the
effect of provisions of the Company's Certificate of Incorporation
and Bylaws that limit foreign owners' ability to vote and own its
equity interests, including its common stock, its preferred stock
and convertible notes; the effect of limitations in the Company's
Certificate of Incorporation on acquisitions and dispositions of
its common stock designed to protect its NOL carryforwards and
certain other tax attributes, which may limit the liquidity of its
common stock; and other economic, business, competitive, and/or
regulatory factors affecting the Company's business, including
those set forth in the filings of US Airways Group, Inc. and the
Company with the SEC, especially in the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" sections of their respective annual reports
on Form 10-K and quarterly reports on Form 10-Q, current reports on
Form 8-K and other SEC filings. Any forward-looking statements
speak only as of the date hereof or as of the dates indicated in
the statements. The Company does not assume any obligation to
publicly update or supplement any forward-looking statement to
reflect actual results, changes in assumptions or changes in other
factors affecting these forward-looking statements except as
required by law.
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SOURCE American Airlines Group