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Our Fly Smart philosophy is about investing only on those points of differentiation that pay for themselves, that earn a revenue premium commensurate with what it costs us to provide that product or service.

But I don't think the popularity of flying has diminished a bit.

At American Airlines, we have built a business around the love of travel that has lasted three quarters of a century. And I'm pretty sure we're just getting started.

Just to cover the increase in fuel costs over the past two years, American would have had to raise fares nearly $75 per round-trip ticket. During this time period, our average fare increased by only $15.

This airline is grateful for his extensive contributions and we will miss his friendship and support. We extend our deepest sympathies to the Casey family on its personal loss.

Markets that don't work we're going to step away from.

We have, unlike many of our competitors, continued to meet our various financial obligations.

The executive moves we are announcing today will strengthen American for the long-term future and reflect well on the depth of the Company's management team.

These are times of unprecedented challenge and change in the airline industry, and the appointments we are announcing today will put American in an even stronger position to continue the substantial progress that has already been made under the tenets of our Turnaround Plan.

Our planes should be full, which among other things means we have a golden opportunity... to build on the momentum reflected in the financial results we are reporting today.

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