However, the economics of our business continued to deteriorate. We barely escaped bankruptcy a year ago, and in the aftermath of that escape we had to make some even tougher decisions.

Quote by Gerard Arpey

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This airline is grateful for his extensive contributions and we will miss his friendship and...

This airline is grateful for his extensive contributions and we will miss his friendship and...

I think in just about any business the low cost competitor is always going to...

I think in just about any business the low cost competitor is always going to...

At American Airlines, we have built a business around the love of travel that has...

At American Airlines, we have built a business around the love of travel that has...

Just to cover the increase in fuel costs over the past two years, American would...

Just to cover the increase in fuel costs over the past two years, American would...

But I definitely see us playing a major role in St. Louis in the years...

But I definitely see us playing a major role in St. Louis in the years...

We need to take excellent care of our customers, and do so at a profit.

We need to take excellent care of our customers, and do so at a profit.

One of our most difficult realizations was that - in the course of two years...

One of our most difficult realizations was that - in the course of two years...

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

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

The executive moves we are announcing today will strengthen American for the long-term future and...

The executive moves we are announcing today will strengthen American for the long-term future and...

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

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

Second, we have to make the most of the strengths we have, the amenities that...

Second, we have to make the most of the strengths we have, the amenities that...

First, we have to lower our costs to levels that are more competitive. This will...

First, we have to lower our costs to levels that are more competitive. This will...

That doesn't mean you have to have the lowest costs in the industry to succeed....

That doesn't mean you have to have the lowest costs in the industry to succeed....

These are times of unprecedented challenge and change in the airline industry, and the appointments...

These are times of unprecedented challenge and change in the airline industry, and the appointments...

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

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

Despite the painful changes we have had to make, we continue to believe in the...

Despite the painful changes we have had to make, we continue to believe in the...

This airline is grateful for his extensive contributions and we will miss his friendship and...

This airline is grateful for his extensive contributions and we will miss his friendship and...

Our Fly Smart philosophy is about investing only on those points of differentiation that pay...

Our Fly Smart philosophy is about investing only on those points of differentiation that pay...

Our planes should be full, which among other things means we have a golden opportunity......

Our planes should be full, which among other things means we have a golden opportunity......

We continued the hard work of integrating TWA, because at that time we still thought...

We continued the hard work of integrating TWA, because at that time we still thought...